Revolution Medicines, Inc. $RVMD Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP lessened its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 57.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,129 shares of the company’s stock after selling 11,117 shares during the period. Aigen Investment Management LP’s holdings in Revolution Medicines were worth $647,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after acquiring an additional 1,056,792 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Revolution Medicines by 194.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after acquiring an additional 14,062 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of Revolution Medicines during the third quarter valued at approximately $921,000. Mass General Brigham Inc acquired a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $27,407,000. Finally, M&T Bank Corp acquired a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $52,723,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insiders Place Their Bets

In related news, insider Xiaolin Wang sold 2,010 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $199,954.80. Following the completion of the sale, the insider owned 116,063 shares of the company’s stock, valued at approximately $11,545,947.24. The trade was a 1.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the sale, the insider directly owned 276,698 shares of the company’s stock, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 148,592 shares of company stock worth $20,855,132 in the last 90 days. 7.60% of the stock is owned by corporate insiders.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $153.87 on Monday. The firm has a fifty day moving average of $140.76 and a two-hundred day moving average of $110.68. The firm has a market capitalization of $32.71 billion, a P/E ratio of -21.76 and a beta of 1.40. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $166.50. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the business earned ($1.13) EPS. On average, equities analysts expect that Revolution Medicines, Inc. will post -7.94 EPS for the current fiscal year.

Analyst Ratings Changes

RVMD has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They issued a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Truist Financial initiated coverage on shares of Revolution Medicines in a research report on Monday, May 18th. They issued a “buy” rating and a $179.00 price target on the stock. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Finally, Royal Bank Of Canada lifted their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $123.72.

Revolution Medicines 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.