Y Intercept Hong Kong Ltd Has $2.58 Million Stock Position in Revolution Medicines, Inc. $RVMD

Y Intercept Hong Kong Ltd lessened its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 44.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,323 shares of the company’s stock after selling 43,581 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Revolution Medicines were worth $2,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Revolution Medicines by 10.4% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 78,732 shares of the company’s stock valued at $3,677,000 after purchasing an additional 7,421 shares in the last quarter. Tema Etfs LLC boosted its holdings in shares of Revolution Medicines by 34.7% in the third quarter. Tema Etfs LLC now owns 126,921 shares of the company’s stock valued at $5,927,000 after buying an additional 32,694 shares during the period. Bayforest Capital Ltd increased its position in shares of Revolution Medicines by 21.3% during the third quarter. Bayforest Capital Ltd now owns 7,417 shares of the company’s stock worth $346,000 after acquiring an additional 1,301 shares in the last quarter. Forum Financial Management LP bought a new stake in Revolution Medicines in the 3rd quarter valued at $232,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Revolution Medicines in the 3rd quarter worth $236,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RVMD shares. UBS Group upgraded Revolution Medicines to a “strong-buy” rating in a report on Thursday, December 4th. HC Wainwright increased their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Raymond James Financial lifted their price target on shares of Revolution Medicines from $72.00 to $76.00 and gave the company a “strong-buy” rating in a research note on Friday, October 17th. Stifel Nicolaus started coverage on shares of Revolution Medicines in a research note on Wednesday, October 15th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $78.94.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $99.94 on Wednesday. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $124.49. The firm has a market capitalization of $19.32 billion, a price-to-earnings ratio of -19.36 and a beta of 0.99. The stock’s 50 day moving average price is $88.88 and its two-hundred day moving average price is $60.82. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same period last year, the business earned ($0.94) earnings per share. On average, analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total value of $980,000.00. Following the transaction, the chief financial officer owned 108,065 shares in the company, valued at approximately $10,590,370. This represents a 8.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Margaret A. Horn sold 75,000 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total transaction of $7,542,000.00. Following the completion of the transaction, the chief operating officer directly owned 141,053 shares in the company, valued at approximately $14,184,289.68. This represents a 34.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 243,792 shares of company stock valued at $19,757,740 in the last ninety days. Company insiders own 8.20% of the company’s stock.

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.