Revolution Medicines, Inc. $RVMD Shares Sold by Casdin Capital LLC

Casdin Capital LLC reduced its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,577,333 shares of the company’s stock after selling 70,000 shares during the quarter. Revolution Medicines makes up about 12.8% of Casdin Capital LLC’s portfolio, making the stock its 2nd largest holding. Casdin Capital LLC’s holdings in Revolution Medicines were worth $205,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 acquiring an additional 1,056,792 shares during the period. Farallon Capital Management LLC increased its position in Revolution Medicines by 2.1% in the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock valued at $683,020,000 after acquiring an additional 300,000 shares during the period. Baker BROS. Advisors LP increased its position in Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after acquiring an additional 90,385 shares during the period. Nextech Invest Ltd. increased its position in Revolution Medicines by 20.7% in the 4th 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. Finally, Paradigm Biocapital Advisors LP increased its position in Revolution Medicines by 6.8% in the 4th 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. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research report on Monday, June 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Guggenheim upped their price objective on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and an average target price of $123.72.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 29,600 shares of the stock in a transaction on 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 transaction, the chief operating officer directly owned 154,647 shares of the company’s stock, valued at $24,762,077.64. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 120,000 shares of the stock in a transaction 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 directly owned 276,698 shares in the company, valued at approximately $41,529,602.82. This represents a 30.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 210,000 shares of company stock worth $32,424,620. Insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Up 0.8%

NASDAQ:RVMD opened at $157.77 on Thursday. The firm’s fifty day moving average is $144.38 and its 200-day moving average is $112.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50. The firm has a market cap of $33.54 billion, a P/E ratio of -22.32 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted 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 quarter in the prior year, the company earned ($1.13) EPS. Equities analysts expect that Revolution Medicines, Inc. will post -7.94 earnings per share 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.