Virtus ETF Advisers LLC Sells 739 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Virtus ETF Advisers LLC reduced its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 31.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,582 shares of the company’s stock after selling 739 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Revolution Medicines were worth $69,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC boosted its stake in Revolution Medicines by 187.1% in the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock valued at $13,362,000 after purchasing an additional 192,021 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Revolution Medicines in the 3rd quarter valued at $801,000. Lord Abbett & CO. LLC bought a new stake in Revolution Medicines in the 3rd quarter valued at $83,082,000. Everence Capital Management Inc. bought a new stake in Revolution Medicines in the 4th quarter valued at $203,000. Finally, Avanza Fonder AB bought a new stake in Revolution Medicines in the 4th quarter valued at $173,000. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Trading Up 7.0 %

Shares of NASDAQ RVMD opened at $41.47 on Tuesday. The stock has a 50-day moving average price of $37.42 and a two-hundred day moving average price of $43.95. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The company has a market cap of $7.71 billion, a price-to-earnings ratio of -11.55 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). On average, sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Activity

In other news, insider Mark A. Goldsmith sold 11,738 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the sale, the insider now directly owns 441,564 shares in the company, valued at approximately $17,238,658.56. This trade represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares in the company, valued at approximately $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,660 shares of company stock worth $650,406. Corporate insiders own 8.00% of the company’s stock.

Analyst Ratings Changes

RVMD has been the subject of several recent research reports. Wedbush restated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Monday. UBS Group boosted their price target on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Revolution Medicines in a report on Tuesday, April 8th. Stifel Nicolaus dropped their price objective on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, HC Wainwright lifted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $66.67.

Revolution Medicines Profile

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.