Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. trimmed its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 62.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,831 shares of the company's stock after selling 25,178 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Revolution Medicines were worth $649,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG boosted its position in Revolution Medicines by 57.8% during the fourth quarter. Deutsche Bank AG now owns 177,383 shares of the company's stock worth $7,759,000 after purchasing an additional 64,997 shares during the period. DAFNA Capital Management LLC boosted its position in shares of Revolution Medicines by 21.9% in the fourth quarter. DAFNA Capital Management LLC now owns 631,176 shares of the company's stock valued at $27,608,000 after acquiring an additional 113,182 shares during the period. Deerfield Management Company L.P. Series C lifted its position in Revolution Medicines by 11.9% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 3,258,332 shares of the company's stock valued at $142,519,000 after purchasing an additional 345,640 shares during the last quarter. Brevan Howard Capital Management LP increased its holdings in shares of Revolution Medicines by 277.7% in the 4th quarter. Brevan Howard Capital Management LP now owns 41,884 shares of the company's stock worth $1,832,000 after buying an additional 30,796 shares during the last quarter. Finally, Baker BROS. Advisors LP increased its holdings in shares of Revolution Medicines by 4.9% in the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock worth $347,163,000 after buying an additional 367,882 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RVMD has been the subject of several research reports. Stifel Nicolaus decreased their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. HC Wainwright reiterated a "buy" rating and set a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Needham & Company LLC reissued a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a research report on Thursday, May 8th. Wedbush reissued an "outperform" rating and set a $67.00 target price on shares of Revolution Medicines in a research report on Thursday, May 8th. Finally, Oppenheimer upped their price objective on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $67.08.

Insiders Place Their Bets

In other news, COO Margaret A. Horn sold 3,058 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the transaction, the chief operating officer now owns 153,533 shares of the company's stock, valued at approximately $5,993,928.32. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the transaction, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock valued at $650,406 over the last 90 days. 8.20% of the stock is owned by company insiders.

Revolution Medicines Trading Up 1.9%

RVMD traded up $0.71 during midday trading on Wednesday, hitting $37.68. 1,462,915 shares of the company traded hands, compared to its average volume of 1,503,333. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of -10.47 and a beta of 1.11. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The business has a 50 day simple moving average of $37.54 and a two-hundred day simple moving average of $42.25.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same period in the previous year, the business posted ($0.70) EPS. Equities research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Revolution Medicines Profile

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.