Revolution Medicines, Inc. $RVMD Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC decreased its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 10.4% during the first quarter, Holdings Channel reports. The firm owned 104,989 shares of the company’s stock after selling 12,226 shares during the quarter. WCM Investment Management LLC’s holdings in Revolution Medicines were worth $9,734,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RVMD. Indiana Trust & Investment Management Co purchased a new stake in shares of Revolution Medicines in the 4th quarter valued at $32,000. Global Retirement Partners LLC boosted its holdings in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after acquiring an additional 361 shares during the period. Torren Management LLC purchased a new position in Revolution Medicines during the 4th quarter valued at about $33,000. Arax Advisory Partners acquired a new position in Revolution Medicines in the 4th quarter valued at about $38,000. Finally, Darwin Wealth Management LLC purchased a new stake in Revolution Medicines during the fourth quarter worth about $40,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RVMD has been the topic of several research reports. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Royal Bank Of Canada lifted their price objective on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Truist Financial increased their target price on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Piper Sandler raised their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Oppenheimer raised their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.06.

Insider Transactions at Revolution Medicines

In related news, COO Margaret A. Horn sold 29,600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the sale, the chief operating officer owned 154,647 shares of the company’s stock, valued at $24,762,077.64. This trade represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the transaction, the insider owned 291,876 shares of the company’s stock, valued at $45,567,681.12. This represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 132,497 shares of company stock valued at $21,470,486 over the last quarter. Insiders own 7.60% of the company’s stock.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $180.39 on Tuesday. 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 company has a market cap of $38.35 billion, a price-to-earnings ratio of -25.51 and a beta of 1.37. The stock’s 50-day moving average is $165.80 and its two-hundred day moving average is $129.09. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $193.82.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the firm posted ($1.13) earnings per share. Analysts forecast that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal year.

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.