Revolution Medicines, Inc. $RVMD Shares Sold by Lunate Capital Ltd

Lunate Capital Ltd trimmed its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 75.0% in the first quarter, HoldingsChannel reports. The firm owned 549,050 shares of the company’s stock after selling 1,647,150 shares during the period. Revolution Medicines makes up 44.7% of Lunate Capital Ltd’s portfolio, making the stock its biggest position. Lunate Capital Ltd’s holdings in Revolution Medicines were worth $53,395,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Indiana Trust & Investment Management Co bought a new stake in shares of Revolution Medicines during the fourth quarter worth $32,000. Global Retirement Partners LLC raised its holdings in shares of 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 buying an additional 361 shares during the last quarter. Torren Management LLC acquired a new position in Revolution Medicines during the 4th quarter worth about $33,000. Arax Advisory Partners acquired a new position in Revolution Medicines during the 4th quarter worth about $38,000. Finally, Darwin Wealth Management LLC acquired a new position in Revolution Medicines during the 4th quarter worth about $40,000. Institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the sale, the insider owned 276,698 shares in the company, valued at $41,529,602.82. The trade was a 30.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 60,400 shares of Revolution Medicines stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the sale, the chief operating officer owned 158,222 shares of the company’s stock, valued at approximately $25,342,417.74. This represents a 27.63% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 226,917 shares of company stock valued at $35,065,702. 7.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RVMD shares. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Sanford C. Bernstein assumed coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Oppenheimer upped their target price on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Piper Sandler increased their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada raised their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $123.72.

Revolution Medicines Stock Performance

Shares of RVMD opened at $162.99 on Friday. The company has a quick ratio of 6.80, a current 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 firm has a market capitalization of $34.65 billion, a PE ratio of -23.05 and a beta of 1.40. The stock’s fifty day simple moving average is $147.04 and its 200-day simple moving average is $113.34.

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