Eventide Asset Management LLC Sells 216,777 Shares of Revolution Medicines, Inc. $RVMD

Eventide Asset Management LLC lowered its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 36.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 378,261 shares of the company’s stock after selling 216,777 shares during the period. Eventide Asset Management LLC owned 0.20% of Revolution Medicines worth $30,129,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in shares of Revolution Medicines by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after acquiring an additional 125 shares in the last quarter. Deutsche Bank AG raised its position in shares of Revolution Medicines by 0.4% in the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after acquiring an additional 130 shares in the last quarter. Signaturefd LLC raised its position in shares of Revolution Medicines by 33.1% in the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after acquiring an additional 163 shares in the last quarter. Allworth Financial LP raised its position in shares of Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after acquiring an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Revolution Medicines by 44.7% during the 4th quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock valued at $60,000 after buying an additional 232 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RVMD shares. Truist Financial started coverage on Revolution Medicines in a research report on Monday, May 18th. They set a “buy” rating and a $179.00 price objective for the company. UBS Group started coverage on Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating for the company. Guggenheim raised their price objective on Revolution Medicines to $205.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Sanford C. Bernstein started coverage on Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $123.72.

Insider Buying and Selling at Revolution Medicines

In other news, insider Xiaolin Wang sold 2,010 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $199,954.80. Following the transaction, the insider directly owned 116,063 shares in the company, valued at $11,545,947.24. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jack Anders sold 2,753 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $273,868.44. Following the completion of the transaction, the chief financial officer owned 125,512 shares in the company, valued at approximately $12,485,933.76. This trade represents a 2.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 148,592 shares of company stock worth $20,855,132. Insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Performance

Shares of RVMD opened at $153.87 on Friday. The business’s fifty day simple moving average is $140.76 and its two-hundred day simple moving average is $110.42. 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, Inc. has a 12 month low of $34.00 and a 12 month high of $166.50. The company has a market cap of $32.71 billion, a price-to-earnings ratio of -21.76 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the firm posted ($1.13) earnings per share. Research analysts anticipate that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

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.