D. E. Shaw & Co. Inc. Sells 25,178 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

D. E. Shaw & Co. Inc. cut its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 62.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,831 shares of the company's stock after selling 25,178 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Revolution Medicines were worth $649,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. IFP Advisors Inc acquired a new position in Revolution Medicines in the 4th quarter valued at approximately $34,000. Sterling Capital Management LLC increased its position in shares of Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after purchasing an additional 1,672 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock valued at $90,000 after purchasing an additional 1,613 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Revolution Medicines in the fourth quarter worth $104,000. Finally, Daiwa Securities Group Inc. lifted its position in Revolution Medicines by 521.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock worth $165,000 after purchasing an additional 3,178 shares during the period. 94.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,738 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the completion of the sale, the insider now owns 441,564 shares in the company, valued at $17,238,658.56. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the transaction, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,660 shares of company stock worth $650,406. 8.20% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Up 3.6%

RVMD traded up $1.35 during trading on Thursday, hitting $39.08. The company's stock had a trading volume of 1,811,442 shares, compared to its average volume of 1,509,076. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of -10.89 and a beta of 1.11. The firm's 50 day moving average price is $37.53 and its two-hundred day moving average price is $42.07. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter last year, the company earned ($0.70) earnings per share. On average, sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Guggenheim dropped their price objective on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Wedbush reissued an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, May 8th. Stifel Nicolaus decreased their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. HC Wainwright reiterated a "buy" rating and issued a $72.00 price objective (down from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $57.00 target price on shares of Revolution Medicines in a report on Thursday, May 8th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $67.08.

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.