Revolution Medicines, Inc. $RVMD Shares Sold by Casdin Capital LLC

Casdin Capital LLC cut its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,577,333 shares of the company’s stock after selling 70,000 shares during the quarter. Revolution Medicines accounts for about 12.8% of Casdin Capital LLC’s portfolio, making the stock its 2nd largest holding. Casdin Capital LLC owned about 1.33% of Revolution Medicines worth $205,285,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RVMD. Nextech Invest Ltd. raised its position in shares of Revolution Medicines by 20.7% in 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 in the last quarter. Millennium Management LLC raised its position in shares of Revolution Medicines by 681.8% in the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock valued at $5,529,000 after buying an additional 136,353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Revolution Medicines by 14.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after buying an additional 37,345 shares in the last quarter. Invesco Ltd. raised its position in shares of Revolution Medicines by 19.3% in the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after buying an additional 36,760 shares in the last quarter. Finally, Jump Financial LLC raised its position in shares of Revolution Medicines by 87.9% in the 2nd quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after buying an additional 7,137 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Price Performance

RVMD stock opened at $157.77 on Thursday. The company has a 50 day simple moving average of $144.38 and a 200 day simple moving average of $112.39. The stock has a market cap of $33.54 billion, a price-to-earnings ratio of -22.32 and a beta of 1.40. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $166.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) 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. Research analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 60,400 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the completion of the transaction, the chief operating officer directly owned 158,222 shares in the company, valued at $25,342,417.74. This represents a 27.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 120,000 shares of the company’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 transaction of $18,010,800.00. Following the transaction, the insider owned 276,698 shares of the company’s stock, valued at approximately $41,529,602.82. This represents a 30.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 210,000 shares of company stock valued at $32,424,620. 7.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on RVMD shares. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Monday, June 1st. Jefferies Financial Group started coverage on Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating for the company. Truist Financial started coverage on Revolution Medicines in a research note on Monday, May 18th. They set a “buy” rating and a $179.00 target price for the company. Royal Bank Of Canada boosted their target price on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Three equities 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. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average 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.