Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Sold by Profund Advisors LLC

Profund Advisors LLC cut its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 21.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,999 shares of the company’s stock after selling 10,115 shares during the quarter. Profund Advisors LLC’s holdings in Revolution Medicines were worth $1,397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 320 shares in the last quarter. Amalgamated Bank raised its position in shares of Revolution Medicines by 7.4% during the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after acquiring an additional 365 shares in the last quarter. Headlands Technologies LLC lifted its stake in Revolution Medicines by 140.9% during the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the last quarter. Clear Harbor Asset Management LLC boosted its holdings in Revolution Medicines by 10.2% in the second quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock valued at $436,000 after purchasing an additional 1,036 shares in the last quarter. Finally, Seven Eight Capital LP increased its stake in Revolution Medicines by 1.6% in the second quarter. Seven Eight Capital LP now owns 69,602 shares of the company’s stock valued at $2,701,000 after purchasing an additional 1,108 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Stephen Michael Kelsey sold 16,667 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was 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 directly owns 269,073 shares of the company’s stock, valued at approximately $12,503,822.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Stephen Michael Kelsey sold 16,667 shares of the 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 transaction, the insider now owns 269,073 shares in the company, valued at approximately $12,503,822.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jeff Cislini sold 2,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the sale, the general counsel now directly owns 49,487 shares in the company, valued at approximately $1,903,764.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,221 shares of company stock worth $2,629,277. Company insiders own 8.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RVMD. Jefferies Financial Group started coverage on shares of Revolution Medicines in a report on Monday, July 8th. They issued a “buy” rating and a $63.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $56.00 target price on shares of Revolution Medicines in a report on Monday, August 12th. Needham & Company LLC decreased their target price on Revolution Medicines from $62.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Oppenheimer lifted their price target on Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $53.45.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $42.63 on Tuesday. The stock has a fifty day moving average price of $43.91 and a 200 day moving average price of $39.31. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $48.61. The company has a market cap of $7.03 billion, a PE ratio of -11.37 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.81 million. The firm’s quarterly revenue was down 73.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.92) earnings per share. Analysts anticipate that Revolution Medicines, Inc. will post -3.47 earnings per share for the current fiscal 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.