Revolution Medicines, Inc. $RVMD Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 81.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,695 shares of the company’s stock after selling 147,067 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Revolution Medicines were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in RVMD. Y Intercept Hong Kong Ltd acquired a new stake in Revolution Medicines during the 2nd quarter worth $3,639,000. Harbor Capital Advisors Inc. boosted its stake in Revolution Medicines by 64.7% in the second quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock valued at $2,146,000 after acquiring an additional 22,906 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Revolution Medicines during the first quarter worth about $502,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Revolution Medicines by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company’s stock worth $3,870,000 after purchasing an additional 6,877 shares in the last quarter. Finally, Atle Fund Management AB lifted its holdings in shares of Revolution Medicines by 49.7% in the 2nd quarter. Atle Fund Management AB now owns 82,275 shares of the company’s stock valued at $3,027,000 after purchasing an additional 27,314 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $65.07, for a total transaction of $1,301,400.00. Following the transaction, the insider owned 247,863 shares in the company, valued at approximately $16,128,445.41. The trade was a 7.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jack Anders sold 2,320 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $106,302.40. Following the transaction, the chief financial officer directly owned 110,994 shares of the company’s stock, valued at approximately $5,085,745.08. This trade represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 238,033 shares of company stock worth $11,566,908 in the last three months. Company insiders own 8.20% of the company’s stock.

Revolution Medicines Stock Performance

Shares of RVMD opened at $69.14 on Tuesday. The stock has a market capitalization of $13.37 billion, a P/E ratio of -13.37 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $69.50. The company’s fifty day moving average is $51.75 and its two-hundred day moving average is $43.13.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter last year, the firm earned ($0.94) EPS. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RVMD shares. Wells Fargo & Company upped their target price on Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Stifel Nicolaus initiated coverage on Revolution Medicines in a report on Wednesday, October 15th. They issued a “buy” rating and a $85.00 price objective for the company. HC Wainwright raised their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. National Bankshares set a $80.00 price target on shares of Revolution Medicines in a research report on Friday, October 17th. Finally, Lifesci Capital started coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They set an “outperform” rating and a $80.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $78.71.

Revolution Medicines Company 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.