Revolution Medicines, Inc. $RVMD Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 0.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 15,663,094 shares of the company’s stock after selling 98,597 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Revolution Medicines worth $731,466,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Nextech Invest Ltd. raised its holdings in shares of Revolution Medicines by 20.7% in the fourth 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. Millennium Management LLC boosted its holdings in shares of Revolution Medicines by 681.8% in the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock valued at $5,529,000 after purchasing an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Revolution Medicines by 14.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after buying an additional 37,345 shares during the period. CWM LLC raised its holdings in Revolution Medicines by 171.3% in the second quarter. CWM LLC now owns 917 shares of the company’s stock valued at $34,000 after buying an additional 579 shares during the period. Finally, AlphaQuest LLC purchased a new position in Revolution Medicines in the second quarter valued at approximately $73,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RVMD has been the subject of several recent research reports. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Royal Bank Of Canada started coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price target on the stock. Finally, Needham & Company LLC raised their price target on Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Four investment 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 company. Based on data from MarketBeat.com, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $78.94.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 15,394 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $1,182,567.08. Following the sale, the insider directly owned 232,469 shares of the company’s stock, valued at $17,858,268.58. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Michael Kelsey sold 5,447 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total transaction of $418,438.54. Following the sale, the insider directly owned 278,600 shares of the company’s stock, valued at $21,402,052. This represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 113,792 shares of company stock valued at $10,734,640. Insiders own 8.20% of the company’s stock.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $103.69 on Tuesday. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $124.49. The company has a market capitalization of $20.05 billion, a price-to-earnings ratio of -20.06 and a beta of 1.00. The firm has a 50-day moving average of $97.12 and a two-hundred day moving average of $68.93. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16.

Revolution Medicines Company 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.