Revolution Medicines, Inc. $RVMD Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia reduced its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 91.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 10,305 shares of the company’s stock after selling 115,608 shares during the period. Bank of Nova Scotia’s holdings in Revolution Medicines were worth $1,002,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after buying an additional 1,056,792 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after buying an additional 947,448 shares during the last quarter. Nextech Invest Ltd. increased its position in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after acquiring an additional 1,304,347 shares during the period. Paradigm Biocapital Advisors LP increased its position in Revolution Medicines by 6.8% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock valued at $529,227,000 after acquiring an additional 421,112 shares during the period. Finally, Bellevue Group AG increased its position in Revolution Medicines by 21.7% in the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after acquiring an additional 994,538 shares during the period. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Oppenheimer increased their price objective on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Mizuho boosted their target price on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Sanford C. Bernstein assumed coverage on Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Finally, Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, Revolution Medicines presently has an average rating of “Moderate Buy” and an average price target of $144.67.

Insiders Place Their Bets

In other news, CFO Jack Anders sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the sale, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This trade represents 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 Mark A. Goldsmith sold 10,020 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the completion of the sale, the insider owned 267,330 shares in the company, valued at approximately $41,735,559.60. This trade represents a 3.61% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 132,497 shares of company stock worth $21,470,486. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Down 1.6%

NASDAQ RVMD opened at $180.92 on Thursday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $38.46 billion, a P/E ratio of -25.59 and a beta of 1.37. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $194.56. The firm has a 50-day moving average price of $171.08 and a 200 day moving average price of $133.96.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data 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 quarter in the prior year, the firm earned ($1.13) earnings per share. Equities research analysts expect 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.