Revolution Medicines, Inc. $RVMD Stock Position Lowered by Decheng Capital LLC

Decheng Capital LLC cut its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 53.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 93,500 shares of the company’s stock after selling 106,500 shares during the period. Revolution Medicines accounts for 1.4% of Decheng Capital LLC’s investment portfolio, making the stock its 9th largest holding. Decheng Capital LLC’s holdings in Revolution Medicines were worth $9,093,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Meeder Advisory Services Inc. raised its holdings in Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after acquiring an additional 120 shares during the period. PNC Financial Services Group Inc. lifted its position 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 worth $802,000 after acquiring an additional 125 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after acquiring an additional 130 shares during the period. Signaturefd LLC boosted its holdings in shares of Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after acquiring an additional 163 shares during the period. Finally, Allworth Financial LP grew its position in shares of 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 purchasing an additional 210 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho boosted their price objective on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Piper Sandler raised their target price on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Needham & Company LLC lifted their target price on Revolution Medicines from $235.00 to $236.00 and gave the company a “buy” rating in a report on Monday. Finally, Truist Financial upped their price target on Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has issued 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.

Revolution Medicines Stock Down 0.1%

Shares of NASDAQ:RVMD opened at $183.03 on Thursday. The firm has a fifty day moving average price of $167.21 and a two-hundred day moving average price of $130.55. The company has a market cap of $38.91 billion, a price-to-earnings ratio of -25.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $193.82.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the previous year, the company earned ($1.13) EPS. Analysts anticipate that Revolution Medicines, Inc. will post -7.9 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction dated 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 directly owned 291,876 shares in the company, valued at $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a 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, Director Sushil Patel sold 5,580 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the transaction, the director owned 21,656 shares in the company, valued at $4,071,111.44. This represents a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 132,497 shares of company stock valued at $21,470,486 in the last ninety days. 7.60% of the stock is currently owned by corporate insiders.

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.