Profund Advisors LLC Has $2.15 Million Stock Holdings in Revolution Medicines, Inc. $RVMD

Key Points

• Profund Advisors LLC cut its stake in Revolution Medicines by 27.4% in the fourth quarter, leaving it with 26,929 shares worth about $2.15 million.
• Insider selling was notable last quarter, including CEO Mark A. Goldsmith’s sale of 120,000 shares for about $18.0 million; insiders sold a total of 184,592 shares worth $24.5 million.
• Revolution Medicines missed earnings estimates in its latest quarter, posting a loss of $2.29 per share versus expectations of a $1.83 loss, even as analysts remain broadly bullish with a consensus Buy rating and a $108.88 target price.

Profund Advisors LLC lessened its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 27.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,929 shares of the company's stock after selling 10,150 shares during the period. Profund Advisors LLC's holdings in Revolution Medicines were worth $2,145,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its position in Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company's stock worth $52,000 after buying an additional 163 shares in the last quarter. Allworth Financial LP lifted its position in Revolution Medicines by 57.2% during the 4th quarter. Allworth Financial LP now owns 577 shares of the company's stock valued at $46,000 after purchasing an additional 210 shares during the period. Farther Finance Advisors LLC lifted its position in Revolution Medicines by 44.7% during the 4th quarter. Farther Finance Advisors LLC now owns 751 shares of the company's stock valued at $60,000 after purchasing an additional 232 shares during the period. CWM LLC lifted its position in Revolution Medicines by 51.6% during the 4th quarter. CWM LLC now owns 702 shares of the company's stock valued at $56,000 after purchasing an additional 239 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Revolution Medicines by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 54,143 shares of the company's stock valued at $2,528,000 after acquiring an additional 336 shares during the period. Institutional investors and hedge funds own 94.34% of the company's stock.

Insider Activity at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 120,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $41,529,602.82. This represents a 30.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Michael Kelsey sold 4,302 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $427,962.96. Following the sale, the insider directly owned 295,398 shares of the company's stock, valued at $29,386,193.04. This represents a 1.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 184,592 shares of company stock worth $24,499,532 in the last quarter. 8.20% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Up 2.0%

RVMD opened at $147.30 on Wednesday. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $155.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The company has a market capitalization of $31.32 billion, a P/E ratio of -20.83 and a beta of 1.41. The stock has a fifty day moving average of $120.60 and a 200-day moving average of $99.54.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results 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 prior year, the business earned ($1.13) earnings per share. On average, equities analysts expect that Revolution Medicines, Inc. will post -7.75 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Revolution Medicines to $165.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Guggenheim increased their target price on Revolution Medicines to $205.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Jefferies Financial Group began coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They set a "buy" rating for the company. Benchmark reiterated an "overweight" rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Finally, Stifel Nicolaus reissued a "buy" rating on shares of Revolution Medicines in a research note on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Revolution Medicines presently has a consensus rating of "Buy" and a consensus target price of $108.88.

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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