Revolution Medicines, Inc. $RVMD Shares Sold by Defilade Capital Management L.P.

Defilade Capital Management L.P. cut its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 13.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 315,972 shares of the company’s stock after selling 47,482 shares during the quarter. Revolution Medicines accounts for about 4.3% of Defilade Capital Management L.P.’s portfolio, making the stock its 9th biggest holding. Defilade Capital Management L.P. owned about 0.15% of Revolution Medicines worth $30,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Revolution Medicines during the 4th quarter worth approximately $195,568,000. Avoro Capital Advisors LLC acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $172,840,000. UBS Group AG raised its holdings in shares of Revolution Medicines by 183.6% in the fourth quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock valued at $245,954,000 after purchasing an additional 1,998,972 shares during the last quarter. Polar Capital Holdings Plc lifted its position in shares of Revolution Medicines by 321.2% in the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after purchasing an additional 1,535,686 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Revolution Medicines by 197.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,205,555 shares of the company’s stock worth $175,672,000 after purchasing an additional 1,463,155 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insiders Place Their Bets

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the sale, the director owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This trade represents a 20.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Margaret A. Horn sold 29,600 shares of Revolution Medicines stock in a transaction on Wednesday, June 17th. The stock was 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 approximately $24,762,077.64. This trade represents a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 132,497 shares of company stock worth $21,470,486 in the last quarter. Company insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RVMD. Royal Bank Of Canada raised their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Truist Financial increased their price objective on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Guggenheim raised their price objective on Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Wedbush raised their price objective on Revolution Medicines from $181.00 to $192.10 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $144.67.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $187.53 on Monday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $172.57 and its two-hundred day moving average price is $134.97. The firm has a market capitalization of $39.87 billion, a price-to-earnings ratio of -26.52 and a beta of 1.37. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $194.56.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the prior year, the company posted ($1.13) earnings per share. On average, analysts anticipate that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.

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.