Sei Investments Co. Sells 31,703 Shares of Revolution Medicines, Inc. $RVMD

Sei Investments Co. cut its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 50.7% in the 1st quarter, Holdings Channel reports. The firm owned 30,786 shares of the company’s stock after selling 31,703 shares during the period. Sei Investments Co.’s holdings in Revolution Medicines were worth $2,994,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after purchasing an additional 1,056,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Revolution Medicines by 194.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after buying an additional 14,062 shares in the last quarter. Mass General Brigham Inc purchased a new stake in shares of Revolution Medicines in the 4th quarter worth about $27,407,000. Eagle Health Investments LP purchased a new stake in shares of Revolution Medicines in the 4th quarter worth about $9,231,000. Finally, M&T Bank Corp bought a new position in shares of Revolution Medicines in the 4th quarter worth about $52,723,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $205.15 on Friday. The company has a market capitalization of $43.97 billion, a price-to-earnings ratio of -23.26 and a beta of 1.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines, Inc. has a one year low of $34.14 and a one year high of $205.90. The company’s 50-day moving average is $176.66 and its 200 day moving average is $137.46.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period last year, the firm earned ($1.31) EPS. Sell-side analysts expect that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the transaction, the insider directly owned 291,876 shares in the company, valued at $45,567,681.12. The trade was a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 10,020 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the completion of the transaction, the insider owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 132,497 shares of company stock valued at $21,470,486 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

RVMD has been the topic of several research reports. Mizuho boosted their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Guggenheim lifted their target price on shares of Revolution Medicines from $235.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $230.00 price target on shares of Revolution Medicines in a research report on Thursday. Wedbush upped their price target on Revolution Medicines from $192.10 to $201.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $195.00 price objective on shares of Revolution Medicines in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.05.

About Revolution Medicines

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.