Siren L.L.C. Sells 224,095 Shares of Revolution Medicines, Inc. $RVMD

Siren L.L.C. cut its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMDFree Report) by 16.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,110,980 shares of the company’s stock after selling 224,095 shares during the period. Revolution Medicines comprises about 3.0% of Siren L.L.C.’s investment portfolio, making the stock its 8th largest position. Siren L.L.C. owned about 0.52% of Revolution Medicines worth $108,043,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Indiana Trust & Investment Management Co bought a new stake in Revolution Medicines in the 4th quarter valued at $32,000. Global Retirement Partners LLC lifted its holdings in shares of Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after acquiring an additional 361 shares during the period. Torren Management LLC bought a new position in shares of Revolution Medicines during the 4th quarter worth about $33,000. Arax Advisory Partners acquired a new stake in shares of Revolution Medicines during the 4th quarter valued at about $38,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Revolution Medicines during the 4th quarter valued at about $40,000. 94.34% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Sushil Patel sold 5,580 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Margaret A. Horn sold 29,600 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the sale, the chief operating officer owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. This trade represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RVMD has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Needham & Company LLC upped their price objective on Revolution Medicines from $235.00 to $236.00 and gave the company a “buy” rating in a research note on Monday. Wedbush increased their target price on Revolution Medicines from $181.00 to $192.10 and gave the stock an “outperform” rating in a report on Thursday. Sanford C. Bernstein assumed coverage on Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price for the company. Finally, Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Revolution Medicines has an average rating of “Moderate Buy” and an average price target of $144.67.

Read Our Latest Analysis on Revolution Medicines

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $188.75 on Friday. The stock has a market capitalization of $40.13 billion, a price-to-earnings ratio of -26.70 and a beta of 1.37. The firm’s 50-day moving average price is $168.00 and its two-hundred day moving average price is $131.32. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $193.82.

Revolution Medicines (NASDAQ:RVMDGet Free Report) last posted 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 company posted ($1.13) EPS. On average, equities analysts predict that Revolution Medicines, Inc. will post -7.9 earnings per share for the current fiscal year.

About Revolution Medicines

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Revolution Medicines (NASDAQ:RVMD)

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