Revolution Medicines, Inc. $RVMD Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 17.6% in the first quarter, HoldingsChannel.com reports. The fund owned 141,296 shares of the company’s stock after selling 30,247 shares during the period. The Manufacturers Life Insurance Company’s holdings in Revolution Medicines were worth $13,741,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RVMD. Quantinno Capital Management LP raised its position in Revolution Medicines by 97.6% in the 1st quarter. Quantinno Capital Management LP now owns 63,360 shares of the company’s stock valued at $6,162,000 after purchasing an additional 31,297 shares in the last quarter. ABS Direct Equity Fund LLC acquired a new position in Revolution Medicines in the first quarter valued at approximately $175,000. Orbimed Advisors LLC boosted its holdings in Revolution Medicines by 100.8% in the first quarter. Orbimed Advisors LLC now owns 52,000 shares of the company’s stock valued at $5,057,000 after purchasing an additional 26,100 shares in the last quarter. Rangeley Capital LLC purchased a new position in Revolution Medicines in the first quarter valued at approximately $6,487,000. Finally, Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Revolution Medicines in the 1st quarter valued at $247,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $187.53 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The company has a market capitalization of $39.87 billion, a P/E ratio of -26.52 and a beta of 1.37. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $194.56. The company’s fifty day moving average is $172.57 and its two-hundred day moving average is $134.97.

Revolution Medicines (NASDAQ:RVMD) last announced 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 quarter last year, the firm earned ($1.13) EPS. Analysts forecast that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.

Insider Activity

In related news, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the transaction, the director owned 21,656 shares in the company, valued at $4,071,111.44. The trade was a 20.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jack Anders sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the sale, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 132,497 shares of company stock valued at $21,470,486. Insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

RVMD has been the topic of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 price target on the stock. Oppenheimer upped their price objective on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Wedbush raised their price objective on Revolution Medicines from $181.00 to $192.10 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Royal Bank Of Canada lifted their target price on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Guggenheim boosted their target price on Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $144.67.

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.