Revolution Medicines, Inc. (NASDAQ:RVMD) Holdings Cut by Bellevue Group AG

Bellevue Group AG reduced its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,073,600 shares of the company’s stock after selling 17,400 shares during the quarter. Revolution Medicines comprises 2.5% of Bellevue Group AG’s investment portfolio, making the stock its 10th largest position. Bellevue Group AG owned approximately 3.08% of Revolution Medicines worth $163,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC raised its stake in Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after buying an additional 885 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Revolution Medicines by 10.6% in the 4th quarter. Teacher Retirement System of Texas now owns 23,375 shares of the company’s stock valued at $670,000 after purchasing an additional 2,238 shares during the period. ProShare Advisors LLC lifted its position in Revolution Medicines by 6.8% during the first quarter. ProShare Advisors LLC now owns 36,605 shares of the company’s stock valued at $1,180,000 after buying an additional 2,331 shares during the period. Manchester Capital Management LLC purchased a new stake in shares of Revolution Medicines in the 4th quarter worth about $80,000. Finally, Amalgamated Bank lifted its position in Revolution Medicines by 18.7% during the 4th quarter. Amalgamated Bank now owns 18,495 shares of the company’s stock valued at $530,000 after acquiring an additional 2,908 shares during the period. Institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on RVMD shares. Raymond James raised Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $36.00 to $48.00 in a research report on Wednesday, April 10th. Bank of America upped their price target on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Wedbush raised their price objective on shares of Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Jefferies Financial Group started coverage on Revolution Medicines in a research report on Monday, July 8th. They issued a “buy” rating and a $63.00 target price on the stock. Finally, Oppenheimer increased their price target on Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $50.67.

Insider Activity at Revolution Medicines

In related news, General Counsel Jeff Cislini sold 2,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the completion of the transaction, the general counsel now directly owns 49,487 shares in the company, valued at approximately $1,903,764.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Jeff Cislini sold 2,000 shares of Revolution Medicines stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total value of $76,940.00. Following the completion of the sale, the general counsel now owns 49,487 shares of the company’s stock, valued at $1,903,764.89. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Michael Kelsey sold 16,667 shares of Revolution Medicines stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $46.47, for a total value of $774,515.49. Following the completion of the sale, the insider now owns 269,073 shares of the company’s stock, valued at approximately $12,503,822.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,421 shares of company stock valued at $2,578,577. Insiders own 8.00% of the company’s stock.

Revolution Medicines Price Performance

Shares of RVMD stock traded up $0.88 during midday trading on Friday, hitting $46.44. The company had a trading volume of 1,099,305 shares, compared to its average volume of 2,192,683. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of -12.38 and a beta of 1.44. The company’s 50 day simple moving average is $40.64 and its 200 day simple moving average is $35.18. Revolution Medicines, Inc. has a 52-week low of $15.44 and a 52-week high of $48.61.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.05. During the same quarter last year, the company posted ($0.72) earnings per share. Revolution Medicines’s revenue for the quarter was down 100.0% compared to the same quarter last year. Analysts anticipate that Revolution Medicines, Inc. will post -3.21 EPS for the current year.

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.