Sei Investments Co. Cuts Holdings in Revolution Medicines, Inc. $RVMD

Sei Investments Co. trimmed its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 50.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,786 shares of the company’s stock after selling 31,703 shares during the quarter. Sei Investments Co.’s holdings in Revolution Medicines were worth $2,994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at $195,568,000. Avoro Capital Advisors LLC bought a new position in Revolution Medicines during the fourth quarter valued at about $172,840,000. UBS Group AG increased its holdings 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 last quarter. Polar Capital Holdings Plc raised its position in Revolution Medicines by 321.2% in the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after acquiring an additional 1,535,686 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Revolution Medicines by 197.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,205,555 shares of the company’s stock valued at $175,672,000 after acquiring an additional 1,463,155 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 60,400 shares of Revolution Medicines stock in a transaction on Monday, June 15th. The stock was sold at an average price of $160.17, for a total value of $9,674,268.00. Following the completion of the transaction, the chief operating officer directly owned 158,222 shares in the company, valued at approximately $25,342,417.74. The trade was a 27.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was 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 in the company, valued at $20,749,870.77. This trade represents a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 132,497 shares of company stock valued at $21,470,486 in the last 90 days. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $205.15 on Friday. The stock has a market capitalization of $43.97 billion, a P/E ratio of -23.26 and a beta of 1.39. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $176.66 and its 200 day moving average is $137.46. Revolution Medicines, Inc. has a 12 month low of $34.14 and a 12 month high of $205.90.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the prior year, the company earned ($1.31) EPS. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RVMD. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Piper Sandler increased their price objective on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Finally, Mizuho boosted their target price on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. 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 assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.05.

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.