Revolution Medicines, Inc. $RVMD Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 30.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 370,520 shares of the company’s stock after selling 165,084 shares during the quarter. TD Asset Management Inc’s holdings in Revolution Medicines were worth $29,512,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RVMD. General Atlantic L.P. acquired a new position in Revolution Medicines during the third quarter worth about $115,556,000. Norges Bank acquired a new position in Revolution Medicines during the fourth quarter worth about $195,568,000. UBS Group AG grew its position in Revolution Medicines by 183.6% during the fourth quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock worth $245,954,000 after buying an additional 1,998,972 shares during the period. Nextech Invest Ltd. grew its position in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after buying an additional 1,304,347 shares during the period. Finally, Vestal Point Capital LP acquired a new position in Revolution Medicines during the second quarter worth about $44,148,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RVMD shares. Piper Sandler upped their target price on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research report on Monday, June 1st. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Finally, UBS Group started coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $123.72.

Insiders Place Their Bets

In other news, insider Stephen Michael Kelsey sold 4,302 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the sale, the insider directly owned 295,398 shares in the company, valued at $29,386,193.04. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Anders sold 2,753 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the completion of the sale, the chief financial officer owned 125,512 shares in the company, valued at $12,485,933.76. This represents a 2.15% decrease in their ownership of the stock. 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. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Down 4.1%

RVMD stock opened at $149.23 on Friday. The company’s 50 day simple moving average is $135.34 and its 200-day simple moving average is $107.66. The firm has a market capitalization of $31.73 billion, a PE ratio of -21.11 and a beta of 1.40. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $166.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business posted ($1.13) EPS. Equities analysts expect that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

About Revolution Medicines

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.