Vanguard Group Inc. Reduces Stock Holdings in Revolution Medicines, Inc. $RVMD

Vanguard Group Inc. lowered its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,663,094 shares of the company’s stock after selling 98,597 shares during the quarter. Vanguard Group Inc. owned 8.38% of Revolution Medicines worth $731,466,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Revolution Medicines by 45.1% during the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares during the period. California State Teachers Retirement System raised its stake in shares of Revolution Medicines by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 140,077 shares of the company’s stock valued at $5,153,000 after buying an additional 437 shares during the last quarter. CWM LLC raised its stake in shares of Revolution Medicines by 171.3% during the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock valued at $34,000 after buying an additional 579 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Revolution Medicines by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 41,299 shares of the company’s stock valued at $1,929,000 after buying an additional 646 shares during the period. Finally, Avanza Fonder AB boosted its stake in shares of Revolution Medicines by 17.5% in the third quarter. Avanza Fonder AB now owns 4,335 shares of the company’s stock worth $202,000 after buying an additional 647 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Price Performance

Shares of RVMD opened at $103.69 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. The stock has a market cap of $20.05 billion, a PE ratio of -20.06 and a beta of 1.00. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $124.49. The firm has a 50-day simple moving average of $97.12 and a two-hundred day simple moving average of $68.93.

Insider Activity

In other Revolution Medicines news, insider Mark A. Goldsmith sold 15,394 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total value of $1,182,567.08. Following the sale, the insider directly owned 232,469 shares of the company’s stock, valued at approximately $17,858,268.58. This represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen Michael Kelsey sold 5,447 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total transaction of $418,438.54. Following the completion of the transaction, the insider owned 278,600 shares in the company, valued at $21,402,052. This represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 113,792 shares of company stock valued at $10,734,640 over the last three months. 8.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Needham & Company LLC lifted their price target on Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. increased their target price on Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Wolfe Research began coverage on Revolution Medicines in a report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 target price for the company. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Finally, Royal Bank Of Canada started coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They set an “outperform” rating and a $77.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $78.94.

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.