Siren L.L.C. Cuts Stock Position in Revolution Medicines, Inc. $RVMD

Key Points

• Siren L.L.C. sold 7,793 shares of Revolution Medicines, reducing its stake by 1.4%, while still holding 563,755 shares, valued at approximately $19.93 million.
• Revolution Medicines reported a loss of $1.31 EPS for the last quarter, missing estimates by $0.37, with a year-over-year revenue growth of 0%.
• The stock has a consensus rating of "Buy" from fourteen investment analysts, with an average price target of $72.00.

Siren L.L.C. trimmed its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 563,755 shares of the company's stock after selling 7,793 shares during the quarter. Revolution Medicines makes up about 1.2% of Siren L.L.C.'s portfolio, making the stock its 23rd biggest position. Siren L.L.C. owned 0.30% of Revolution Medicines worth $19,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of Revolution Medicines by 8.9% during the first quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company's stock worth $416,821,000 after acquiring an additional 966,230 shares during the period. Nextech Invest Ltd. lifted its stake in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Paradigm Biocapital Advisors LP grew its holdings in Revolution Medicines by 23.3% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,553,111 shares of the company's stock worth $286,633,000 after purchasing an additional 1,239,022 shares during the last quarter. Woodline Partners LP raised its stake in Revolution Medicines by 13.2% in the fourth quarter. Woodline Partners LP now owns 3,885,713 shares of the company's stock valued at $169,961,000 after buying an additional 452,000 shares during the last quarter. Finally, Lunate Capital Ltd purchased a new position in shares of Revolution Medicines in the first quarter worth $77,658,000. 94.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RVMD shares. Wedbush increased their price target on shares of Revolution Medicines from $73.00 to $77.00 and gave the stock an "outperform" rating in a report on Thursday. Wells Fargo & Company upped their target price on Revolution Medicines from $67.00 to $70.00 and gave the stock an "overweight" rating in a research note on Thursday. Lifesci Capital started coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They set an "outperform" rating and a $80.00 price objective on the stock. Guggenheim restated a "buy" rating and set a $80.00 price target on shares of Revolution Medicines in a research report on Wednesday, June 25th. Finally, Truist Financial began coverage on Revolution Medicines in a research report on Friday, September 5th. They issued a "buy" rating and a $99.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to MarketBeat, Revolution Medicines presently has an average rating of "Buy" and an average target price of $73.67.

Revolution Medicines Trading Up 0.7%

Shares of NASDAQ RVMD traded up $0.31 during midday trading on Friday, reaching $46.55. 3,632,213 shares of the stock were exchanged, compared to its average volume of 1,873,654. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The stock has a market capitalization of $8.70 billion, a P/E ratio of -10.34 and a beta of 1.12. The company has a 50 day simple moving average of $37.94 and a 200 day simple moving average of $38.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same period in the prior year, the business earned ($0.81) earnings per share. The company's revenue for the quarter was up .0% on a year-over-year basis. As a group, equities analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, CFO Jack Anders sold 5,238 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total value of $210,410.46. Following the sale, the chief financial officer directly owned 113,314 shares of the company's stock, valued at approximately $4,551,823.38. The trade was a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is currently owned by corporate insiders.

Revolution Medicines Profile

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.