Revolution Medicines, Inc. $RVMD Shares Sold by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd lessened its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 27.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,627 shares of the company’s stock after selling 5,073 shares during the period. Persistent Asset Partners Ltd’s holdings in Revolution Medicines were worth $636,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. NEOS Investment Management LLC lifted its stake in shares of Revolution Medicines by 34.7% in the 3rd quarter. NEOS Investment Management LLC now owns 126,921 shares of the company’s stock valued at $5,927,000 after purchasing an additional 32,694 shares during the period. GSA Capital Partners LLP raised its position in shares of Revolution Medicines by 18.8% in the third quarter. GSA Capital Partners LLP now owns 10,080 shares of the company’s stock worth $471,000 after acquiring an additional 1,594 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Revolution Medicines by 10.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,308 shares of the company’s stock worth $2,723,000 after acquiring an additional 5,478 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Revolution Medicines by 29.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,941 shares of the company’s stock worth $464,000 after acquiring an additional 2,246 shares in the last quarter. Finally, S&CO Inc. grew its position in shares of Revolution Medicines by 56.5% during the 3rd quarter. S&CO Inc. now owns 22,171 shares of the company’s stock valued at $1,035,000 after acquiring an additional 8,000 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Stock Up 3.0%

Shares of NASDAQ RVMD opened at $102.74 on Friday. The stock has a market cap of $19.86 billion, a PE ratio of -19.87 and a beta of 1.01. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $124.49. The company has a 50-day moving average of $96.16 and a 200 day moving average of $67.57.

Insider Buying and Selling

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 5,447 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total value of $418,438.54. Following the completion of the sale, the insider directly owned 278,600 shares in the company, valued at $21,402,052. This represents a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $98.00, for a total value of $980,000.00. Following the completion of the sale, the chief financial officer directly owned 108,065 shares of the company’s stock, valued at $10,590,370. This trade represents a 8.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 173,792 shares of company stock worth $15,239,440. 8.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RVMD has been the subject of a number of analyst reports. UBS Group raised Revolution Medicines to a “strong-buy” rating in a report on Thursday, December 4th. Needham & Company LLC lifted their price target on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada initiated coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They set an “outperform” rating and a $77.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Revolution Medicines has a consensus rating of “Buy” and an average price target of $78.94.

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.