Revolution Medicines, Inc. $RVMD Position Trimmed by Tidal Investments LLC

Tidal Investments LLC cut its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 20.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 109,096 shares of the company’s stock after selling 28,146 shares during the period. Tidal Investments LLC owned about 0.05% of Revolution Medicines worth $20,431,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of RVMD. California State Teachers Retirement System grew its holdings in shares of Revolution Medicines by 26,920.9% during the second quarter. California State Teachers Retirement System now owns 44,659,351 shares of the company’s stock valued at $8,363,803,000 after purchasing an additional 44,494,074 shares during the last quarter. Janus Henderson Group PLC boosted its position in Revolution Medicines by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after purchasing an additional 947,448 shares during the period. Nextech Invest Ltd. grew its stake in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after buying an additional 1,304,347 shares during the last quarter. Paradigm Biocapital Advisors LP grew its stake in Revolution Medicines by 6.8% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock worth $529,227,000 after buying an additional 421,112 shares during the last quarter. Finally, Bellevue Group AG increased its position in Revolution Medicines by 21.7% in the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after buying an additional 994,538 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Down 2.1%

RVMD stock opened at $203.35 on Friday. The firm’s 50-day moving average is $198.37 and its two-hundred day moving average is $155.89. The company has a market capitalization of $43.59 billion, a price-to-earnings ratio of -23.06 and a beta of 1.40. Revolution Medicines, Inc. has a 52 week low of $42.18 and a 52 week high of $224.31. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the business posted ($1.31) earnings per share. On average, analysts forecast that Revolution Medicines, Inc. will post -8.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Evercore reiterated an “outperform” rating and issued a $320.00 target price on shares of Revolution Medicines in a research note on Thursday, August 27th. Truist Financial increased their price objective on shares of Revolution Medicines from $231.00 to $239.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Needham & Company LLC boosted their target price on shares of Revolution Medicines from $240.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Finally, Wedbush increased their price objective on Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Two 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.11.

Insider Transactions at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 80,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $209.20, for a total value of $16,736,000.00. Following the transaction, the insider owned 267,330 shares of the company’s stock, valued at $55,925,436. The trade was a 23.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jack Anders sold 20,000 shares of the business’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 transaction of $3,366,600.00. Following the completion of the sale, the chief financial officer owned 123,269 shares in the company, valued at $20,749,870.77. The trade was a 13.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 285,587 shares of company stock valued at $53,173,750 in the last quarter. 7.60% of the stock is owned by company insiders.

Revolution Medicines Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.