Rhumbline Advisers Reduces Holdings in Revolution Medicines, Inc. $RVMD

Rhumbline Advisers reduced its holdings in Revolution Medicines, Inc. by 39.1% in Q2, owning 156,591 shares worth $5.76 million. Other institutional investors adjusted their stakes, with 94.34% of the stock owned by institutions. Insiders sold 308,033 shares worth $17.08 million in the last 90 days. Analysts have given the stock a consensus 'Buy' rating with an average price target of $78.50. Revolution Medicines' stock rose 3.2%, opening at $77.69, with a market cap of $15.02 billion.

Rhumbline Advisers reduced its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 39.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,591 shares of the company's stock after selling 100,559 shares during the period. Rhumbline Advisers owned about 0.08% of Revolution Medicines worth $5,761,000 at the end of the most recent quarter.

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Other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Revolution Medicines by 171.3% during the 2nd quarter. CWM LLC now owns 917 shares of the company's stock worth $34,000 after acquiring an additional 579 shares during the last quarter. Banque Transatlantique SA bought a new position in Revolution Medicines in the 1st quarter worth $42,000. Quarry LP purchased a new position in Revolution Medicines during the first quarter valued at $50,000. Twin Tree Management LP purchased a new position in Revolution Medicines during the first quarter valued at $58,000. Finally, a16z Perennial Management L.P. bought a new stake in Revolution Medicines during the second quarter valued at about $67,000. 94.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Lin Wei sold 2,160 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $98,971.20. Following the completion of the transaction, the insider owned 88,339 shares in the company, valued at $4,047,692.98. This trade represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Margaret A. Horn sold 4,775 shares of Revolution Medicines stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $218,790.50. Following the completion of the sale, the chief operating officer directly owned 145,900 shares in the company, valued at $6,685,138. This trade represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 308,033 shares of company stock worth $17,078,322 in the last 90 days. 8.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James Financial raised their price objective on Revolution Medicines from $72.00 to $76.00 and gave the stock a "strong-buy" rating in a research note on Friday, October 17th. Piper Sandler started coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They set an "overweight" rating and a $75.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of Revolution Medicines from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Royal Bank Of Canada began coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They issued an "outperform" rating and a $77.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Revolution Medicines from $71.00 to $82.00 and gave the company an "overweight" rating in a research report on Thursday, November 6th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Revolution Medicines currently has a consensus rating of "Buy" and an average price target of $78.50.

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Revolution Medicines Trading Up 3.2%

RVMD stock opened at $77.69 on Thursday. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $79.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of -15.03 and a beta of 0.96. The business has a 50 day simple moving average of $59.03 and a two-hundred day simple moving average of $46.01.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter in the previous year, the company posted ($0.94) EPS. Research analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Revolution Medicines Profile

(Free Report)

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.

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