Candriam S.C.A. Sells 450,315 Shares of Revolution Medicines, Inc. $RVMD

Candriam S.C.A. trimmed its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 43.7% during the 1st quarter, Holdings Channel reports. The fund owned 580,677 shares of the company’s stock after selling 450,315 shares during the period. Candriam S.C.A.’s holdings in Revolution Medicines were worth $56,471,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nextech Invest Ltd. raised its stake in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Millennium Management LLC increased 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 worth $5,529,000 after buying an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Revolution Medicines by 14.2% in 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 worth $10,615,000 after buying an additional 37,345 shares during the last quarter. Invesco Ltd. raised its position in shares of Revolution Medicines by 19.3% during the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after buying an additional 36,760 shares in the last quarter. Finally, Jump Financial LLC raised its position in shares of Revolution Medicines by 87.9% during the 2nd quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after buying an additional 7,137 shares in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the sale, the chief financial officer directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. This trade represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director directly owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This represents a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 252,497 shares of company stock worth $39,481,286 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RVMD shares. Jefferies Financial Group began coverage on Revolution Medicines in a research report on Monday, March 16th. They issued a “buy” rating for the company. Truist Financial raised their price objective on Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Piper Sandler lifted their target price on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wedbush boosted their target price on Revolution Medicines from $165.00 to $181.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. Finally, Royal Bank Of Canada boosted their target price on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Revolution Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.00.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $186.88 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The firm has a market capitalization of $39.73 billion, a P/E ratio of -26.43 and a beta of 1.37. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $193.82. The company’s 50-day moving average is $161.23 and its 200 day moving average is $124.47.

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

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.