Revolution Medicines, Inc. $RVMD Holdings Lessened by BVF Inc. IL

Key Points

• BVF Inc. IL trimmed its stake in Revolution Medicines by 15.6% in the fourth quarter, selling 618,131 shares. Even after the sale, the fund still held 3.36 million shares, making RVMD its second-largest position.
• Insider selling has continued, including COO Margaret A. Horn’s sale of 29,600 shares and CEO Mark A. Goldsmith’s earlier sale of 120,000 shares. Over the last three months, insiders sold 210,000 shares worth about $32.4 million.
• Analysts remain broadly bullish despite the company’s latest earnings miss, which came in at a loss of $2.29 per share versus expectations for a $1.83 loss. Wall Street’s consensus rating is “Buy,” with an average price target of $123.72.

BVF Inc. IL decreased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 15.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,356,782 shares of the company's stock after selling 618,131 shares during the quarter. Revolution Medicines accounts for about 9.0% of BVF Inc. IL's investment portfolio, making the stock its 2nd largest position. BVF Inc. IL owned approximately 1.74% of Revolution Medicines worth $267,368,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RVMD. Indiana Trust & Investment Management Co bought a new position in shares of Revolution Medicines in the fourth quarter worth about $32,000. Global Retirement Partners LLC raised 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 worth $32,000 after buying an additional 361 shares during the period. Torren Management LLC bought a new position in shares of Revolution Medicines in the fourth quarter worth about $33,000. Arax Advisory Partners bought a new position in shares of Revolution Medicines in the fourth quarter worth about $38,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Revolution Medicines in the fourth quarter worth about $40,000. Institutional investors own 94.34% of the company's stock.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 29,600 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the sale, the chief operating officer directly owned 154,647 shares of the company's stock, valued at $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 120,000 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total value of $18,010,800.00. Following the sale, the insider directly owned 276,698 shares in the company, valued at $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 210,000 shares of company stock worth $32,424,620 over the last three months. 7.60% of the stock is currently owned by insiders.

Revolution Medicines Stock Up 0.8%

Shares of RVMD opened at $157.77 on Thursday. The stock has a market capitalization of $33.54 billion, a price-to-earnings ratio of -22.32 and a beta of 1.40. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $166.50. The business's 50 day simple moving average is $144.38 and its 200-day simple moving average is $112.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period last year, the firm earned ($1.13) earnings per share. As a group, equities analysts expect that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RVMD shares. Evercore reaffirmed an "outperform" rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Truist Financial assumed coverage on shares of Revolution Medicines in a report on Monday, May 18th. They issued a "buy" rating and a $179.00 target price for the company. Guggenheim increased their price target on Revolution Medicines to $205.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Piper Sandler increased their price target on Revolution Medicines to $172.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group assumed coverage on Revolution Medicines in a research note on Monday, March 16th. They issued a "buy" rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Revolution Medicines currently has a consensus rating of "Buy" and an average price target of $123.72.

Revolution Medicines Company 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.

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