Revolution Medicines, Inc. $RVMD Stake Cut by Boxer Capital Management LLC

Boxer Capital Management LLC cut its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 49.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 400,000 shares of the company’s stock after selling 392,977 shares during the period. Revolution Medicines makes up 6.0% of Boxer Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Boxer Capital Management LLC’s holdings in Revolution Medicines were worth $18,680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of RVMD. GAMMA Investing LLC increased its holdings in shares of Revolution Medicines by 45.1% in the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares during the period. Osaic Holdings Inc. increased its stake in Revolution Medicines by 41.7% in the 2nd quarter. Osaic Holdings Inc. now owns 3,487 shares of the company’s stock valued at $128,000 after buying an additional 1,027 shares during the period. US Bancorp DE increased its stake in Revolution Medicines by 170.3% in the 3rd quarter. US Bancorp DE now owns 3,168 shares of the company’s stock valued at $148,000 after buying an additional 1,996 shares during the period. Avanza Fonder AB raised its position in Revolution Medicines by 17.5% during the 3rd quarter. Avanza Fonder AB now owns 4,335 shares of the company’s stock worth $202,000 after buying an additional 647 shares during the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in shares of Revolution Medicines in the 3rd quarter worth $205,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Down 0.2%

Revolution Medicines stock opened at $94.86 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $124.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14. The stock’s fifty day moving average is $102.88 and its two-hundred day moving average is $74.97. The firm has a market capitalization of $18.80 billion, a price-to-earnings ratio of -16.05 and a beta of 0.99.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same quarter in the previous year, the business earned ($1.12) EPS. Analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RVMD shares. Wolfe Research assumed coverage on shares of Revolution Medicines in a research note on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price target on the stock. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. UBS Group started coverage on Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating on the stock. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $78.94.

Insider Buying and Selling at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 5,447 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $418,438.54. Following the completion of the transaction, the insider directly owned 278,600 shares in the company, valued at $21,402,052. The trade was a 1.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Margaret A. Horn sold 75,000 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total value of $7,542,000.00. Following the sale, the chief operating officer owned 141,053 shares in the company, valued at approximately $14,184,289.68. This trade represents a 34.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,792 shares of company stock valued at $14,379,040 over the last three months. Company insiders own 8.20% of the company’s stock.

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.