Defilade Capital Management L.P. Sells 47,482 Shares of Revolution Medicines, Inc. $RVMD

Defilade Capital Management L.P. lowered its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 13.1% during the first quarter, Holdings Channel.com reports. The firm owned 315,972 shares of the company’s stock after selling 47,482 shares during the quarter. Revolution Medicines accounts for 4.3% of Defilade Capital Management L.P.’s portfolio, making the stock its 9th biggest holding. Defilade Capital Management L.P.’s holdings in Revolution Medicines were worth $30,728,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after purchasing an additional 1,056,792 shares during the period. Janus Henderson Group PLC lifted 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 in the last quarter. Nextech Invest Ltd. boosted its position in shares of Revolution Medicines by 20.7% in the fourth 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 boosted its position in shares of Revolution Medicines by 6.8% in the fourth 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 grew its stake in shares of Revolution Medicines by 21.7% in the third 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 in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 price target on the stock. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. HC Wainwright restated a “buy” rating and set a $195.00 target price on shares of Revolution Medicines in a research report on Monday, July 6th. Oppenheimer raised their target price on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.67.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $187.53 on Monday. The company has a market cap of $39.87 billion, a price-to-earnings ratio of -26.52 and a beta of 1.37. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $194.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a fifty day moving average price of $172.57 and a 200-day moving average price of $134.97.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results 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 period in the prior year, the company posted ($1.13) earnings per share. As a group, equities analysts anticipate that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director directly 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. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Margaret A. Horn sold 29,600 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the completion of the transaction, the chief operating officer directly owned 154,647 shares in the company, valued at approximately $24,762,077.64. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 132,497 shares of company stock valued at $21,470,486 over the last three months. 7.60% of the stock is owned by 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.