Zweig DiMenna Associates LLC Sells 96,313 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• Zweig DiMenna Associates LLC cut its stake in Revolution Medicines by 92.1% in the first quarter, selling 96,313 shares and leaving it with 8,287 shares worth about $806,000.
• Revolution Medicines reported a Q1 EPS loss of $2.29, wider than analysts expected and worse than the prior year, while Wall Street currently holds a Moderate Buy consensus with a $144 average price target.
• Several analysts raised their price targets on the stock, but insiders also sold shares recently; the company’s stock was trading near its 52-week high at $184.97 with a market cap of $39.32 billion.

Zweig DiMenna Associates LLC reduced its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 92.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,287 shares of the company's stock after selling 96,313 shares during the quarter. Zweig DiMenna Associates LLC's holdings in Revolution Medicines were worth $806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of RVMD. PNC Financial Services Group Inc. increased its holdings in shares of Revolution Medicines by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock worth $802,000 after buying an additional 125 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Revolution Medicines by 0.4% during the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company's stock worth $2,566,000 after acquiring an additional 130 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company's stock worth $52,000 after acquiring an additional 163 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Revolution Medicines by 57.2% during the 4th quarter. Allworth Financial LP now owns 577 shares of the company's stock worth $46,000 after acquiring an additional 210 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Revolution Medicines by 44.7% in the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company's stock worth $60,000 after acquiring an additional 232 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $184.97 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $193.82. The company has a fifty day moving average of $162.78 and a 200-day moving average of $126.23. The stock has a market capitalization of $39.32 billion, a price-to-earnings ratio of -26.16 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results 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 in the prior year, the firm posted ($1.13) EPS. Equities research analysts expect that Revolution Medicines, Inc. will post -7.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RVMD shares. Wedbush increased their target price on Revolution Medicines from $165.00 to $181.00 and gave the company an "outperform" rating in a research note on Thursday, July 2nd. Truist Financial lifted their price target on Revolution Medicines from $179.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Needham & Company LLC upped their price objective on Revolution Medicines from $183.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Mizuho increased their price objective on Revolution Medicines from $185.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, July 6th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Revolution Medicines currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.00.

Insider Buying and Selling at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 10,020 shares of Revolution Medicines stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $1,564,322.40. Following the transaction, the insider owned 267,330 shares in the company, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 29,600 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the sale, the chief operating officer directly owned 154,647 shares of the company's stock, valued at approximately $24,762,077.64. This trade represents a 16.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 132,497 shares of company stock valued at $21,470,486. 7.60% of the stock is currently owned by insiders.

Revolution Medicines 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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