Revolution Medicines, Inc. (NASDAQ:RVMD) Holdings Decreased by Holocene Advisors LP

Holocene Advisors LP lessened its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,149,561 shares of the company’s stock after selling 53,913 shares during the quarter. Holocene Advisors LP’s holdings in Revolution Medicines were worth $97,483,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after acquiring an additional 222 shares during the period. Values First Advisors Inc. bought a new stake in shares of Revolution Medicines during the 3rd quarter worth about $93,000. KBC Group NV lifted its stake in shares of Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after acquiring an additional 368 shares during the period. Nisa Investment Advisors LLC boosted its stake in Revolution Medicines by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after purchasing an additional 320 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Revolution Medicines during the 3rd quarter valued at $216,000. Institutional investors own 94.34% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total transaction of $449,300.00. Following the completion of the sale, the insider now directly owns 300,170 shares of the company’s stock, valued at $13,486,638.10. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Barbara Weber sold 5,200 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total value of $249,704.00. Following the completion of the transaction, the director now directly owns 13,065 shares in the company, valued at approximately $627,381.30. This represents a 28.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,866 shares of company stock worth $6,355,624 over the last three months. 8.00% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Down 6.4 %

NASDAQ:RVMD opened at $54.16 on Monday. The company’s 50 day moving average is $51.89 and its 200-day moving average is $45.35. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of -16.11 and a beta of 1.40. Revolution Medicines, Inc. has a 12 month low of $23.38 and a 12 month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the previous year, the business posted ($0.99) EPS. Research analysts predict that Revolution Medicines, Inc. will post -3.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RVMD. Oppenheimer lifted their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Piper Sandler upped their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. HC Wainwright raised their target price on Revolution Medicines from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Wedbush reissued an “outperform” rating and set a $59.00 price target on shares of Revolution Medicines in a research report on Thursday, August 8th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $61.00.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.