Private Advisor Group LLC Has $969,000 Stock Position in Revolution Medicines, Inc. $RVMD

Private Advisor Group LLC lowered its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 25.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,967 shares of the company’s stock after selling 3,462 shares during the quarter. Private Advisor Group LLC’s holdings in Revolution Medicines were worth $969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RVMD. Nextech Invest Ltd. lifted its position in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Millennium Management LLC raised its position in Revolution Medicines by 681.8% in the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after purchasing an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 worth $10,615,000 after purchasing an additional 37,345 shares during the last quarter. Invesco Ltd. lifted its holdings in Revolution Medicines by 19.3% during the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock worth $8,352,000 after buying an additional 36,760 shares in the last quarter. Finally, Jump Financial LLC increased its stake 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 during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Transactions at Revolution Medicines

In related news, COO Margaret A. Horn sold 60,400 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $160.17, for a total value 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 approximately $25,342,417.74. The trade was a 27.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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. The trade was a 30.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 252,497 shares of company stock valued at $39,481,286. Insiders own 7.60% of the company’s stock.

Revolution Medicines Price Performance

Shares of RVMD opened at $183.95 on Tuesday. The stock has a market cap of $39.11 billion, a P/E ratio of -26.02 and a beta of 1.37. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $193.82. The stock’s 50-day moving average price is $162.03 and its two-hundred day moving average price is $125.51. 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 (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the prior year, the business posted ($1.13) EPS. On average, equities analysts predict that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial upped their price target on Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Evercore restated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Finally, Sanford C. Bernstein began coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.00.

Revolution Medicines 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.