Profund Advisors LLC Has $1.60 Million Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Profund Advisors LLC cut its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,708 shares of the company’s stock after selling 1,542 shares during the quarter. Profund Advisors LLC owned approximately 0.06% of Revolution Medicines worth $1,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RVMD. Baker BROS. Advisors LP lifted its holdings in Revolution Medicines by 1,111.2% during the 1st quarter. Baker BROS. Advisors LP now owns 2,691,493 shares of the company’s stock worth $58,298,000 after buying an additional 2,469,271 shares during the period. BVF Inc. IL lifted its stake in shares of Revolution Medicines by 52.2% in the 1st quarter. BVF Inc. IL now owns 4,955,588 shares of the company’s stock valued at $107,338,000 after purchasing an additional 1,700,000 shares during the period. Farallon Capital Management LLC lifted its stake in shares of Revolution Medicines by 93.4% in the 1st quarter. Farallon Capital Management LLC now owns 3,283,600 shares of the company’s stock valued at $71,123,000 after purchasing an additional 1,585,585 shares during the period. Wellington Management Group LLP lifted its stake in shares of Revolution Medicines by 17.5% in the 1st quarter. Wellington Management Group LLP now owns 10,425,368 shares of the company’s stock valued at $225,813,000 after purchasing an additional 1,551,394 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Revolution Medicines by 25.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,984,002 shares of the company’s stock valued at $137,725,000 after purchasing an additional 1,416,990 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RVMD. Stifel Nicolaus boosted their price objective on Revolution Medicines from $37.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, September 21st. Oppenheimer boosted their price objective on Revolution Medicines from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Raymond James started coverage on Revolution Medicines in a research note on Thursday, November 16th. They set an “outperform” rating and a $30.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Revolution Medicines from $47.00 to $39.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 7th. Finally, HC Wainwright dropped their price target on Revolution Medicines from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, November 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Revolution Medicines Stock Performance

Shares of RVMD opened at $21.73 on Tuesday. The stock has a 50 day moving average price of $25.30 and a two-hundred day moving average price of $26.90. The firm has a market capitalization of $2.38 billion, a P/E ratio of -6.67 and a beta of 1.47. Revolution Medicines, Inc. has a 52 week low of $15.44 and a 52 week high of $35.60.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.99) EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.02. Revolution Medicines had a negative return on equity of 38.92% and a negative net margin of 1,003.36%. During the same quarter last year, the company posted ($0.87) earnings per share. On average, equities analysts forecast that Revolution Medicines, Inc. will post -3.5 earnings per share for the current year.

Insiders Place Their Bets

In other Revolution Medicines news, General Counsel Jeff Cislini sold 1,214 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $31.31, for a total transaction of $38,010.34. Following the completion of the sale, the general counsel now directly owns 42,013 shares of the company’s stock, valued at approximately $1,315,427.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Jeff Cislini sold 1,214 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $31.31, for a total value of $38,010.34. Following the completion of the transaction, the general counsel now directly owns 42,013 shares of the company’s stock, valued at $1,315,427.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Barbara Weber sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $35.07, for a total value of $526,050.00. Following the completion of the transaction, the director now directly owns 15,825 shares of the company’s stock, valued at $554,982.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,382 shares of company stock valued at $4,427,228. Corporate insiders own 8.50% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic tumors.