Soleus Capital Management L.P. Sells 503,500 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Soleus Capital Management L.P. trimmed its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 71.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,084 shares of the company’s stock after selling 503,500 shares during the quarter. Soleus Capital Management L.P. owned 0.12% of Revolution Medicines worth $8,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Revolution Medicines by 187.1% in the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after acquiring an additional 192,021 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Revolution Medicines by 92.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company’s stock worth $2,711,000 after purchasing an additional 29,853 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company’s stock worth $84,467,000 after purchasing an additional 167,997 shares during the last quarter. Sandy Cove Advisors LLC purchased a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $1,837,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Revolution Medicines by 11.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock valued at $186,000 after buying an additional 434 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RVMD. HC Wainwright reissued a “buy” rating and set a $72.00 price target (down from $73.00) on shares of Revolution Medicines in a research note on Wednesday. Wedbush reiterated an “outperform” rating and set a $67.00 target price on shares of Revolution Medicines in a research report on Thursday, May 8th. Guggenheim lowered their target price on shares of Revolution Medicines from $87.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Oppenheimer raised their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus decreased their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $67.08.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 1,864 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the transaction, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 11,738 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the sale, the insider now directly owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,660 shares of company stock valued at $650,406. Corporate insiders own 8.20% of the company’s stock.

Revolution Medicines Stock Performance

Shares of RVMD opened at $39.54 on Monday. The company has a 50 day moving average price of $37.49 and a 200-day moving average price of $43.05. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The stock has a market capitalization of $7.37 billion, a PE ratio of -11.01 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same period in the prior year, the company earned ($0.70) EPS. Equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Revolution Medicines Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.