Revolution Medicines, Inc. $RVMD Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 90.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,395 shares of the company’s stock after selling 63,050 shares during the quarter. Principal Financial Group Inc.’s holdings in Revolution Medicines were worth $299,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RVMD. Norges Bank bought a new position in shares of Revolution Medicines in the second quarter valued at $62,584,000. Nextech Invest Ltd. grew its holdings in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Vestal Point Capital LP acquired a new stake in shares of Revolution Medicines during the second quarter worth $44,148,000. HRT Financial LP raised its position in shares of Revolution Medicines by 2,795.5% during the second quarter. HRT Financial LP now owns 686,426 shares of the company’s stock worth $25,253,000 after purchasing an additional 662,719 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Revolution Medicines by 329.2% during the second quarter. Qube Research & Technologies Ltd now owns 786,017 shares of the company’s stock valued at $28,918,000 after purchasing an additional 602,877 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total value of $980,000.00. Following the completion of the sale, the chief financial officer owned 108,065 shares in the company, valued at $10,590,370. This represents a 8.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Margaret A. Horn sold 75,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total transaction of $7,542,000.00. Following the transaction, the chief operating officer owned 141,053 shares in the company, valued at approximately $14,184,289.68. This represents a 34.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 173,792 shares of company stock worth $15,239,440 in the last quarter. 8.20% of the stock is owned by corporate insiders.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $102.74 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. The firm has a market capitalization of $19.86 billion, a price-to-earnings ratio of -19.87 and a beta of 1.01. The company has a 50 day simple moving average of $96.16 and a 200-day simple moving average of $67.57. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $124.49.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RVMD. HC Wainwright lifted their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Thursday, January 22nd. Finally, UBS Group raised shares of Revolution Medicines to a “strong-buy” rating in a research note on Thursday, December 4th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Revolution Medicines presently has an average rating of “Buy” and an average price target of $78.94.

Revolution Medicines Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.