Tidal Investments LLC lowered its stake in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 20.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,096 shares of the company’s stock after selling 28,146 shares during the quarter. Tidal Investments LLC’s holdings in Revolution Medicines were worth $20,431,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Advisory Services Inc. boosted its holdings in shares of Revolution Medicines by 3.0% in the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after buying an additional 120 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after acquiring an additional 125 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Revolution Medicines by 147.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company’s stock valued at $41,000 after acquiring an additional 130 shares during the period. Deutsche Bank AG lifted its position in shares of Revolution Medicines by 0.4% in the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after acquiring an additional 130 shares in the last quarter. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Revolution Medicines in the 2nd quarter valued at approximately $32,000. Institutional investors and hedge funds own 94.34% of the company’s stock.
Insider Transactions at Revolution Medicines
In related news, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the sale, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. The trade was a 13.96% 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 80,000 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the completion of the sale, the insider owned 267,330 shares of the company’s stock, valued at $55,925,436. This represents a 23.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 285,587 shares of company stock valued at $53,173,750. Insiders own 7.60% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Research Report on RVMD
Revolution Medicines Stock Down 2.1%
RVMD opened at $203.35 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $42.18 and a fifty-two week high of $224.31. The business has a 50-day moving average of $198.37 and a 200-day moving average of $155.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The company has a market capitalization of $43.59 billion, a PE ratio of -23.06 and a beta of 1.40.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter last year, the company earned ($1.31) earnings per share. Equities research analysts forecast that Revolution Medicines, Inc. will post -8.83 EPS for the current fiscal year.
About Revolution Medicines
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
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