Revolution Medicines, Inc. $RVMD is Decheng Capital LLC’s 9th Largest Position

Decheng Capital LLC lessened its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 53.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,500 shares of the company’s stock after selling 106,500 shares during the quarter. Revolution Medicines makes up about 1.4% of Decheng Capital LLC’s holdings, making the stock its 9th largest position. Decheng Capital LLC’s holdings in Revolution Medicines were worth $9,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Meeder Advisory Services Inc. raised its position in Revolution Medicines by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after buying an additional 120 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Revolution Medicines by 1.3% during the 4th 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 holdings in Revolution Medicines by 0.4% during the 4th 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 holdings in Revolution Medicines by 33.1% during the 4th 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. Finally, Allworth Financial LP grew its stake in shares of Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Down 0.1%

NASDAQ RVMD opened at $183.03 on Thursday. The business’s fifty day moving average is $167.21 and its 200-day moving average is $130.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The stock has a market capitalization of $38.91 billion, a price-to-earnings ratio of -25.89 and a beta of 1.37. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $193.82.

Revolution Medicines (NASDAQ:RVMD) last posted 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 quarter in the prior year, the company posted ($1.13) EPS. Equities research analysts predict that Revolution Medicines, Inc. will post -7.9 EPS for the current year.

Analyst Ratings Changes

RVMD has been the topic of a number of recent analyst reports. Wedbush raised their price target on shares of Revolution Medicines from $165.00 to $181.00 and gave the company an “outperform” rating in a research report on Thursday, July 2nd. Needham & Company LLC upped their price objective on shares of Revolution Medicines from $235.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler increased their price objective on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Sanford C. Bernstein began coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Finally, Mizuho boosted their target price on Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Revolution Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $144.06.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 10,020 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the sale, the insider owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the sale, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 132,497 shares of company stock worth $21,470,486 in the last three months. Insiders own 7.60% of the company’s stock.

Revolution Medicines Company 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.