Revolution Medicines, Inc. $RVMD Shares Sold by Siren L.L.C.

Siren L.L.C. decreased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 16.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,110,980 shares of the company’s stock after selling 224,095 shares during the quarter. Revolution Medicines makes up approximately 3.0% of Siren L.L.C.’s investment portfolio, making the stock its 8th biggest position. Siren L.L.C.’s holdings in Revolution Medicines were worth $108,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Advisory Services Inc. raised its position in shares of 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 acquiring an additional 120 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after acquiring an additional 125 shares during the period. Deutsche Bank AG boosted its holdings in Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after acquiring an additional 130 shares during the last quarter. Signaturefd LLC boosted its holdings in Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after acquiring an additional 163 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,175 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the sale, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This trade represents a 1.41% 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. In the last 90 days, insiders have sold 132,497 shares of company stock valued at $21,470,486. Insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Up 3.1%

NASDAQ:RVMD opened at $188.75 on Friday. 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, Inc. has a 12-month low of $34.00 and a 12-month high of $193.82. The stock’s fifty day simple moving average is $168.00 and its 200-day simple moving average is $131.32. The firm has a market capitalization of $40.13 billion, a P/E ratio of -26.70 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data 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 last year, the company posted ($1.13) earnings per share. Equities research analysts expect that Revolution Medicines, Inc. will post -7.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RVMD. Wedbush boosted their price objective on Revolution Medicines from $181.00 to $192.10 and gave the stock an “outperform” rating in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Piper Sandler lifted their price target on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Mizuho lifted their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Finally, Truist Financial boosted their price target on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.67.

About Revolution Medicines

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.