Private Advisor Group LLC Has $969,000 Stake in Revolution Medicines, Inc. $RVMD

Private Advisor Group LLC trimmed its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 25.8% during the first quarter, HoldingsChannel.com reports. The firm owned 9,967 shares of the company’s stock after selling 3,462 shares during the quarter. Private Advisor Group LLC’s holdings in Revolution Medicines were worth $969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of RVMD. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in shares of Revolution Medicines during the first quarter worth about $4,561,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Revolution Medicines during the 1st quarter worth approximately $878,000. IFM Investors Pty Ltd acquired a new position in Revolution Medicines during the 1st quarter worth approximately $2,802,000. Janney Montgomery Scott LLC bought a new position in shares of Revolution Medicines during the 1st quarter worth approximately $240,000. Finally, Citrine Capital LLC bought a new position in shares of Revolution Medicines during the 1st quarter worth approximately $243,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Trading Down 1.6%

NASDAQ RVMD opened at $183.95 on Tuesday. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $193.82. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $162.03 and a 200-day moving average of $125.51. The company has a market cap of $39.11 billion, a PE ratio of -26.02 and a beta of 1.37.

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

Analyst Ratings Changes

A number of brokerages have recently commented on RVMD. Mizuho boosted their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Royal Bank Of Canada lifted their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Guggenheim boosted their price target on shares of Revolution Medicines from $205.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.00.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 10,020 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 267,330 shares in the company, valued at approximately $41,735,559.60. This trade represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 dated Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the sale, the chief financial officer owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This trade represents a 13.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 252,497 shares of company stock worth $39,481,286 in the last 90 days. 7.60% of the stock is owned by corporate insiders.

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.