Granahan Investment Management LLC Reduces Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Granahan Investment Management LLC reduced its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 20.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 119,430 shares of the company’s stock after selling 29,929 shares during the period. Granahan Investment Management LLC owned about 0.07% of Revolution Medicines worth $5,224,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Ensign Peak Advisors Inc increased its position in Revolution Medicines by 667.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 305,172 shares of the company’s stock worth $13,348,000 after buying an additional 265,389 shares during the last quarter. Farallon Capital Management LLC increased its holdings in Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock worth $579,498,000 after acquiring an additional 1,931,000 shares during the last quarter. Deutsche Bank AG raised its stake in Revolution Medicines by 57.8% in the 4th quarter. Deutsche Bank AG now owns 177,383 shares of the company’s stock valued at $7,759,000 after acquiring an additional 64,997 shares during the period. DAFNA Capital Management LLC lifted its holdings in Revolution Medicines by 21.9% during the fourth quarter. DAFNA Capital Management LLC now owns 631,176 shares of the company’s stock valued at $27,608,000 after purchasing an additional 113,182 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its position in Revolution Medicines by 11.9% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 3,258,332 shares of the company’s stock worth $142,519,000 after purchasing an additional 345,640 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. HC Wainwright boosted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and set a $57.00 target price on shares of Revolution Medicines in a report on Thursday. Stifel Nicolaus cut their price target on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Guggenheim decreased their price objective on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Oppenheimer increased their price objective on Revolution Medicines from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $67.17.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares of the company’s stock, valued at approximately $5,993,928.32. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jack Anders sold 1,864 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the transaction, the chief financial officer now directly owns 115,006 shares of the company’s stock, valued at $4,489,834.24. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock worth $650,406 over the last quarter. 8.00% of the stock is owned by corporate insiders.

Revolution Medicines Trading Down 3.2 %

RVMD stock opened at $40.58 on Friday. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of -11.30 and a beta of 1.11. The firm’s 50-day moving average price is $37.36 and its two-hundred day moving average price is $43.41. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same quarter in the prior year, the firm posted ($0.70) earnings per share. Equities analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Revolution Medicines Profile

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.