Revolution Medicines, Inc. $RVMD Stock Position Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 32.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,775 shares of the company’s stock after selling 3,291 shares during the period. PNC Financial Services Group Inc.’s holdings in Revolution Medicines were worth $659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RVMD. Oslo Pensjonsforsikring AS acquired a new stake in shares of Revolution Medicines in the 1st quarter worth approximately $58,000. Andra AP fonden acquired a new position in shares of Revolution Medicines during the first quarter valued at approximately $1,614,000. Meeder Advisory Services Inc. raised its holdings in Revolution Medicines by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after purchasing an additional 120 shares in the last quarter. Parallel Advisors LLC raised its holdings in Revolution Medicines by 181.0% during the first quarter. Parallel Advisors LLC now owns 562 shares of the company’s stock worth $55,000 after purchasing an additional 362 shares in the last quarter. Finally, KBC Group NV raised its holdings in Revolution Medicines by 266.6% during the first quarter. KBC Group NV now owns 15,395 shares of the company’s stock worth $1,497,000 after purchasing an additional 11,196 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Price Performance

RVMD opened at $187.53 on Monday. The stock has a fifty day moving average of $172.57 and a 200-day moving average of $134.97. The firm has a market capitalization of $39.87 billion, a P/E ratio of -26.52 and a beta of 1.37. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $194.56. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period last year, the business earned ($1.13) EPS. Equities analysts forecast that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RVMD. Mizuho boosted their price objective on Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Piper Sandler raised their target price on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Guggenheim lifted their target price on Revolution Medicines from $205.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Finally, Needham & Company LLC upped their price target on shares of Revolution Medicines from $235.00 to $236.00 and gave the company a “buy” rating in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $144.67.

Insider Buying and Selling

In related news, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the sale, the director directly owned 21,656 shares in the company, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 29,600 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the completion of the sale, the chief operating officer owned 154,647 shares of the company’s stock, valued at $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 132,497 shares of company stock valued at $21,470,486. 7.60% of the stock is owned by corporate insiders.

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.