Dimensional Fund Advisors LP Sells 317,032 Shares of Revolution Medicines, Inc. $RVMD

Dimensional Fund Advisors LP cut its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 27.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 844,614 shares of the company's stock after selling 317,032 shares during the quarter. Dimensional Fund Advisors LP owned about 0.40% of Revolution Medicines worth $82,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC raised its position 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 worth $32,000 after buying an additional 361 shares in the last quarter. Indiana Trust & Investment Management Co bought a new stake in Revolution Medicines during the fourth quarter valued at $32,000. Torren Management LLC purchased a new position in Revolution Medicines during the fourth quarter worth about $33,000. Arax Advisory Partners bought a new position in Revolution Medicines in the 4th quarter worth about $38,000. Finally, Darwin Wealth Management LLC bought a new position in Revolution Medicines in the 4th quarter worth about $40,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Stock Up 6.2%

Shares of NASDAQ RVMD opened at $192.17 on Friday. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $194.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The firm's 50 day simple moving average is $171.85 and its two-hundred day simple moving average is $134.48. The stock has a market capitalization of $40.85 billion, a P/E ratio of -27.18 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same period in the previous year, the company posted ($1.13) EPS. As a group, analysts expect that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RVMD has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on Revolution Medicines from $165.00 to $182.00 and gave the company an "outperform" rating in a research report on Tuesday, June 2nd. Mizuho raised their target price on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, July 6th. Needham & Company LLC lifted their target price on shares of Revolution Medicines from $235.00 to $236.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Guggenheim boosted their price target 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. Finally, Evercore reissued an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.67.

Insiders Place Their Bets

In other news, insider Mark A. Goldsmith sold 10,020 shares of Revolution Medicines stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $1,564,322.40. Following the transaction, the insider owned 267,330 shares in the company, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the sale, the insider directly owned 291,876 shares of the company's stock, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 132,497 shares of company stock valued at $21,470,486 over the last three months. 7.60% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding RVMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.