Revolution Medicines, Inc. $RVMD Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 27.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,993,866 shares of the company’s stock after selling 1,148,548 shares during the period. Geode Capital Management LLC’s holdings in Revolution Medicines were worth $110,165,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. CWM LLC increased its stake in shares of Revolution Medicines by 171.3% during the second quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after purchasing an additional 579 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Revolution Medicines in the 1st quarter worth about $42,000. Quarry LP acquired a new stake in Revolution Medicines in the 1st quarter worth about $50,000. Twin Tree Management LP purchased a new stake in Revolution Medicines during the 1st quarter worth approximately $58,000. Finally, a16z Perennial Management L.P. acquired a new position in shares of Revolution Medicines during the second quarter valued at approximately $67,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insiders Place Their Bets

In other news, COO Margaret A. Horn sold 4,775 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $218,790.50. Following the transaction, the chief operating officer owned 145,900 shares of the company’s stock, valued at $6,685,138. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 100,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.08, for a total value of $4,408,000.00. Following the transaction, the insider owned 289,414 shares of the company’s stock, valued at approximately $12,757,369.12. This represents a 25.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 258,033 shares of company stock valued at $12,974,508. Insiders own 8.20% of the company’s stock.

Revolution Medicines Trading Down 0.9%

Shares of RVMD opened at $69.88 on Friday. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $72.72. The firm has a market capitalization of $13.51 billion, a P/E ratio of -13.52 and a beta of 1.25. The firm has a 50-day moving average price of $53.42 and a 200 day moving average price of $43.71. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter in the prior year, the business posted ($0.94) EPS. Sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RVMD. Royal Bank Of Canada initiated coverage on Revolution Medicines in a research note on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price target on the stock. The Goldman Sachs Group raised their price objective on Revolution Medicines from $65.00 to $73.00 and gave the company a “buy” rating in a report on Friday, September 12th. Wolfe Research started coverage on shares of Revolution Medicines in a research report on Tuesday. They issued an “outperform” rating and a $75.00 target price for the company. Wedbush raised their price target on shares of Revolution Medicines from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Needham & Company LLC upped their price objective on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $78.50.

About Revolution Medicines

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.