TD Asset Management Inc Trims Stock Position in Revolution Medicines, Inc. $RVMD

TD Asset Management Inc cut its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 30.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 370,520 shares of the company’s stock after selling 165,084 shares during the period. TD Asset Management Inc owned about 0.19% of Revolution Medicines worth $29,512,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RVMD. Indiana Trust & Investment Management Co purchased a new stake in Revolution Medicines in the fourth quarter valued at $32,000. Global Retirement Partners LLC lifted its position in Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after acquiring an additional 361 shares during the last quarter. Torren Management LLC purchased a new stake in Revolution Medicines in the fourth quarter valued at $33,000. Darwin Wealth Management LLC purchased a new stake in Revolution Medicines in the fourth quarter valued at $40,000. Finally, Allworth Financial LP lifted its position in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Guggenheim upped their target price on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Truist Financial began coverage on shares of Revolution Medicines in a report on Monday, May 18th. They issued a “buy” rating and a $179.00 target price for the company. Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. Finally, HC Wainwright upped their target price on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a report on Monday, June 1st. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $123.72.

Insider Activity

In related news, insider Lin Wei sold 2,073 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $206,222.04. Following the completion of the transaction, the insider directly owned 101,366 shares of the company’s stock, valued at $10,083,889.68. This represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark A. Goldsmith sold 120,000 shares of the stock in a transaction dated 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 directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. This represents a 30.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 148,592 shares of company stock valued at $20,855,132 over the last ninety days. 7.60% of the stock is currently owned by company insiders.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $149.23 on Friday. The company has a 50-day simple moving average of $135.34 and a 200-day simple moving average of $107.66. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $166.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a market capitalization of $31.73 billion, a price-to-earnings ratio of -21.11 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the firm earned ($1.13) EPS. On average, analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

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.