Revolution Medicines, Inc. $RVMD Shares Sold by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP cut its stake in Revolution Medicines by 57.8% in the fourth quarter, leaving it with 8,129 shares valued at about $647,000.
• The company’s stock was trading around $153.87 with a market cap of $32.71 billion, and its shares have ranged from $34.00 to $166.50 over the past 52 weeks.
• Revolution Medicines reported a quarterly EPS loss of $2.29, wider than analysts expected, while Wall Street sentiment remains mostly positive with an average “Buy” rating and a $123.72 price target.

Aigen Investment Management LP lessened its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 57.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,129 shares of the company's stock after selling 11,117 shares during the period. Aigen Investment Management LP's holdings in Revolution Medicines were worth $647,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company's stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares during the period. Farallon Capital Management LLC increased its position in Revolution Medicines by 2.1% during the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company's stock worth $683,020,000 after purchasing an additional 300,000 shares during the period. Baker BROS. Advisors LP grew its holdings in shares of Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company's stock worth $441,565,000 after acquiring an additional 90,385 shares during the period. Nextech Invest Ltd. grew its holdings in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the period. Finally, Paradigm Biocapital Advisors LP grew its holdings in shares of Revolution Medicines by 2.1% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company's stock worth $290,628,000 after acquiring an additional 130,000 shares during the period. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Stock Performance

RVMD stock opened at $153.87 on Monday. The company has a market cap of $32.71 billion, a price-to-earnings ratio of -21.76 and a beta of 1.40. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $140.76 and a 200-day simple moving average of $110.68. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same period last year, the business posted ($1.13) earnings per share. On average, equities research analysts expect that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Insider Activity at Revolution Medicines

In other news, COO Margaret A. Horn sold 4,583 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $455,916.84. Following the transaction, the chief operating officer owned 157,570 shares of the company's stock, valued at approximately $15,675,063.60. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jack Anders sold 2,753 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $273,868.44. Following the transaction, the chief financial officer directly owned 125,512 shares in the company, valued at $12,485,933.76. The trade was a 2.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 148,592 shares of company stock valued at $20,855,132. 7.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RVMD. Stifel Nicolaus restated a "buy" rating on shares of Revolution Medicines in a report on Monday, April 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a report on Tuesday, April 21st. HC Wainwright upped their price target on Revolution Medicines from $169.00 to $195.00 and gave the stock a "buy" rating in a report on Monday, June 1st. Evercore restated an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Finally, Truist Financial initiated coverage on Revolution Medicines in a report on Monday, May 18th. They issued a "buy" rating and a $179.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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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