ADAR1 Capital Management LLC Lowers Stock Position in Revolution Medicines, Inc. $RVMD

ADAR1 Capital Management LLC cut its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 7.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,893 shares of the company's stock after selling 11,186 shares during the period. ADAR1 Capital Management LLC owned approximately 0.06% of Revolution Medicines worth $13,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Indiana Trust & Investment Management Co purchased a new position in shares of Revolution Medicines during the fourth quarter worth $32,000. Global Retirement Partners LLC grew its stake 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 in the last quarter. Torren Management LLC purchased a new stake in shares of Revolution Medicines in the 4th quarter valued at $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. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Price Performance

Shares of RVMD opened at $183.86 on Wednesday. The firm has a market capitalization of $39.09 billion, a price-to-earnings ratio of -26.01 and a beta of 1.37. The firm's fifty day simple moving average is $170.47 and its 200-day simple moving average is $133.44. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $194.56. 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 (NASDAQ:RVMD - Get Free Report) last issued 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 period in the previous year, the business posted ($1.13) EPS. Equities analysts forecast that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In related news, CFO Jack Anders sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the sale, the chief financial officer owned 123,269 shares in the company, valued at $20,749,870.77. The trade was a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 10,020 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the sale, the insider owned 267,330 shares of the company's stock, valued at $41,735,559.60. This represents a 3.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RVMD has been the topic of several research reports. Piper Sandler increased their price target on shares of Revolution Medicines to $172.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Evercore restated an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Guggenheim upped their target price on shares of Revolution Medicines from $205.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Royal Bank Of Canada increased their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. Finally, Stifel Nicolaus reissued a "buy" rating on shares of Revolution Medicines in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $144.67.

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.

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