Revolution Medicines, Inc. $RVMD Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC cut its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,194 shares of the company’s stock after selling 19,498 shares during the period. Granahan Investment Management LLC’s holdings in Revolution Medicines were worth $7,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of Revolution Medicines by 1.3% in 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 during the last quarter. Deutsche Bank AG boosted its stake 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 last quarter. Signaturefd LLC boosted its stake 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 last quarter. Allworth Financial LP boosted its stake in shares of Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after acquiring an additional 210 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Revolution Medicines by 44.7% in the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $60,000 after acquiring an additional 232 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the transaction, the insider owned 276,698 shares in the company, valued at approximately $41,529,602.82. This trade represents a 30.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on RVMD shares. Oppenheimer lifted their price target on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Piper Sandler lifted their price target on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group started coverage on Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Revolution Medicines currently has an average rating of “Buy” and a consensus price target of $123.72.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $156.58 on Wednesday. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $166.50. The company has a market cap of $33.29 billion, a price-to-earnings ratio of -22.15 and a beta of 1.40. 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 business’s 50 day moving average price is $143.13 and its 200 day moving average price is $111.82.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data 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 previous year, the firm posted ($1.13) earnings per share. On average, research analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Revolution Medicines Profile

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.