Revolution Medicines, Inc. $RVMD Stock Holdings Lowered by First Turn Management LLC

First Turn Management LLC reduced its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 638,385 shares of the company’s stock after selling 4,665 shares during the period. Revolution Medicines makes up 5.8% of First Turn Management LLC’s holdings, making the stock its 2nd biggest holding. First Turn Management LLC’s holdings in Revolution Medicines were worth $50,847,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after buying an additional 1,056,792 shares during the period. Farallon Capital Management LLC raised its holdings in shares of Revolution Medicines by 2.1% during the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock valued at $683,020,000 after buying an additional 300,000 shares during the period. Baker BROS. Advisors LP raised its holdings in shares of Revolution Medicines by 1.0% during the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after buying an additional 90,385 shares during the period. Nextech Invest Ltd. raised its holdings in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares during the period. Finally, Paradigm Biocapital Advisors LP raised its holdings in shares of Revolution Medicines by 2.1% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock valued at $290,628,000 after buying an additional 130,000 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Jefferies Financial Group assumed coverage on Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating on the stock. Sanford C. Bernstein assumed coverage on Revolution Medicines in a report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Oppenheimer raised their target price on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. HC Wainwright lifted their price objective on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, Benchmark restated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $123.72.

Revolution Medicines Price Performance

RVMD stock opened at $153.87 on Friday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $166.50. The stock’s 50 day moving average is $140.76 and its two-hundred day moving average is $110.42. The company has a market capitalization of $32.71 billion, a PE ratio of -21.76 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the prior year, the firm posted ($1.13) earnings per share. Analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Insider Activity at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 4,302 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $427,962.96. Following the completion of the transaction, the insider owned 295,398 shares in the company, valued at approximately $29,386,193.04. This trade represents a 1.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Xiaolin Wang sold 2,010 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $199,954.80. Following the completion of the transaction, the insider owned 116,063 shares of the company’s stock, valued at approximately $11,545,947.24. The trade was a 1.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 148,592 shares of company stock worth $20,855,132 over the last ninety days. Company insiders own 7.60% of the company’s stock.

About Revolution Medicines

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.