Alphabet Inc. Has $266.44 Million Stake in Revolution Medicines, Inc. $RVMD

Alphabet Inc. lessened its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 19.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,345,102 shares of the company’s stock after selling 788,175 shares during the period. Revolution Medicines accounts for about 10.3% of Alphabet Inc.’s investment portfolio, making the stock its 3rd biggest holding. Alphabet Inc.’s holdings in Revolution Medicines were worth $266,437,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in shares of Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after acquiring an additional 125 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Revolution Medicines by 0.4% during the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after acquiring an additional 130 shares in the last quarter. Signaturefd LLC raised its stake in shares of Revolution Medicines by 33.1% during the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after acquiring an additional 163 shares in the last quarter. Allworth Financial LP raised its stake in shares of Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Revolution Medicines by 44.7% during the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock valued at $60,000 after acquiring an additional 232 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on RVMD shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Jefferies Financial Group started coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating for the company. HC Wainwright lifted their price target on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Finally, Piper Sandler boosted their price objective on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen 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, the company currently has a consensus rating of “Buy” and a consensus target price of $123.72.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $153.87 on Friday. The company has a market capitalization of $32.71 billion, a price-to-earnings ratio of -21.76 and a beta of 1.40. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50. 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 firm has a 50 day moving average of $140.76 and a 200 day moving average of $110.42.

Revolution Medicines (NASDAQ:RVMD) last issued 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 prior year, the company earned ($1.13) EPS. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Lin Wei sold 2,073 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $206,222.04. Following the completion of the transaction, the insider owned 101,366 shares of the company’s stock, valued at $10,083,889.68. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark A. Goldsmith sold 120,000 shares of the business’s 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 completion of the transaction, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. This trade represents a 30.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 148,592 shares of company stock valued at $20,855,132 over the last ninety days. Company insiders own 7.60% of the company’s stock.

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.