Granahan Investment Management LLC Trims Holdings in Revolution Medicines, Inc. $RVMD

Granahan Investment Management LLC trimmed its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,194 shares of the company’s stock after selling 19,498 shares during the quarter. Granahan Investment Management LLC owned about 0.05% of Revolution Medicines worth $7,901,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC grew its holdings in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after acquiring an additional 361 shares during the period. Indiana Trust & Investment Management Co acquired a new stake in Revolution Medicines during the fourth quarter worth about $32,000. Torren Management LLC acquired a new stake in Revolution Medicines during the fourth quarter worth about $33,000. Arax Advisory Partners acquired a new stake in Revolution Medicines during the fourth quarter worth about $38,000. Finally, Darwin Wealth Management LLC acquired a new stake in Revolution Medicines during the fourth quarter worth about $40,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Down 2.2%

Shares of RVMD opened at $156.58 on Wednesday. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $166.50. The stock’s 50 day moving average is $143.13 and its two-hundred day moving average is $111.82. The firm has a market cap of $33.29 billion, a P/E ratio of -22.15 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the prior year, the business earned ($1.13) earnings per share. Analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 120,000 shares of the firm’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 value of $18,010,800.00. Following the sale, the insider directly owned 276,698 shares of the company’s stock, valued at approximately $41,529,602.82. This trade represents a 30.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on RVMD shares. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. HC Wainwright raised their target price on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Royal Bank Of Canada raised their target price on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Finally, Sanford C. Bernstein started 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. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $123.72.

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.