Siren L.L.C. Decreases 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. decreased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 563,755 shares of the company's stock after selling 7,793 shares during the period. Revolution Medicines accounts for about 1.2% of Siren L.L.C.'s holdings, making the stock its 23rd biggest holding. Siren L.L.C. owned 0.30% of Revolution Medicines worth $19,934,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in RVMD. Lunate Capital Ltd acquired a new stake in shares of Revolution Medicines in the first quarter valued at about $77,658,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Revolution Medicines during the 1st quarter valued at about $59,173,000. Nextech Invest Ltd. boosted its position 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 valued at $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its position in shares of Revolution Medicines by 23.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,553,111 shares of the company's stock valued at $286,633,000 after purchasing an additional 1,239,022 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of Revolution Medicines by 18,248.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,064,046 shares of the company's stock valued at $37,625,000 after purchasing an additional 1,058,247 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Stock Performance

Shares of RVMD traded down $1.50 on Tuesday, reaching $44.70. 2,871,229 shares of the company's stock traded hands, compared to its average volume of 1,972,781. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The stock has a market cap of $8.36 billion, a PE ratio of -9.93 and a beta of 1.12. The stock's 50 day simple moving average is $38.30 and its two-hundred day simple moving average is $38.25. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). Revolution Medicines's revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. On average, analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jack Anders sold 5,238 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total transaction of $210,410.46. Following the completion of the sale, the chief financial officer directly owned 113,314 shares of the company's stock, valued at approximately $4,551,823.38. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Michael Kelsey sold 25,000 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $45.97, for a total value of $1,149,250.00. Following the completion of the sale, the insider directly owned 289,414 shares of the company's stock, valued at $13,304,361.58. This represents a 7.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 135,000 shares of company stock valued at $5,958,236 over the last ninety days. 8.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RVMD has been the topic of several research analyst reports. The Goldman Sachs Group upped their target price on Revolution Medicines from $65.00 to $73.00 and gave the company a "buy" rating in a research report on Friday. Wedbush upped their target price on Revolution Medicines from $73.00 to $77.00 and gave the company an "outperform" rating in a research report on Thursday, September 11th. Raymond James Financial initiated coverage on Revolution Medicines in a research report on Friday. They set a "strong-buy" rating and a $72.00 target price on the stock. Piper Sandler initiated coverage on Revolution Medicines in a research report on Monday, August 18th. They set an "overweight" rating and a $75.00 target price on the stock. Finally, Guggenheim restated a "buy" rating and set a $80.00 target price on shares of Revolution Medicines in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $73.67.

About Revolution Medicines

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.