SG Americas Securities LLC Reduces Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

SG Americas Securities LLC cut its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 93.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,595 shares of the company’s stock after selling 54,206 shares during the period. SG Americas Securities LLC’s holdings in Revolution Medicines were worth $103,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Revolution Medicines by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock worth $292,646,000 after buying an additional 282,786 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Revolution Medicines by 3.2% during the third quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock worth $266,935,000 after purchasing an additional 303,088 shares during the last quarter. Walleye Capital LLC acquired a new position in Revolution Medicines during the third quarter valued at $2,644,000. Victory Capital Management Inc. boosted its holdings in Revolution Medicines by 392.5% in the third quarter. Victory Capital Management Inc. now owns 342,359 shares of the company’s stock valued at $9,476,000 after purchasing an additional 272,848 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Revolution Medicines by 602.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 20,691 shares of the company’s stock worth $573,000 after purchasing an additional 17,746 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several analyst reports. Bank of America raised Revolution Medicines from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $31.00 to $34.00 in a report on Friday, January 5th. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $36.00 to $48.00 in a research note on Wednesday, April 10th. Oppenheimer raised their price target on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Needham & Company LLC reiterated a “buy” rating and issued a $46.00 price objective (up previously from $36.00) on shares of Revolution Medicines in a research report on Monday, April 8th. Finally, Piper Sandler started coverage on Revolution Medicines in a research report on Monday, March 11th. They set an “overweight” rating and a $43.00 price target on the stock. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $41.20.

Revolution Medicines Trading Down 2.5 %

NASDAQ:RVMD opened at $34.92 on Friday. The firm has a market cap of $5.75 billion, a P/E ratio of -9.26 and a beta of 1.54. The stock has a 50 day moving average of $31.70 and a two-hundred day moving average of $27.59. Revolution Medicines, Inc. has a 12 month low of $15.44 and a 12 month high of $38.73.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The company had revenue of $0.74 million during the quarter, compared to analysts’ expectations of $1.20 million. The business’s quarterly revenue was down 95.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.63) EPS. On average, research analysts forecast that Revolution Medicines, Inc. will post -3.18 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Sushil Patel sold 2,155 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total value of $79,735.00. Following the completion of the sale, the director now owns 15,700 shares of the company’s stock, valued at $580,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Stephen Michael Kelsey sold 2,123 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $67,044.34. Following the completion of the sale, the insider now directly owns 270,909 shares in the company, valued at $8,555,306.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sushil Patel sold 2,155 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $37.00, for a total transaction of $79,735.00. Following the completion of the transaction, the director now owns 15,700 shares in the company, valued at $580,900. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,205 shares of company stock worth $671,249. 8.50% of the stock is owned by insiders.

Revolution Medicines Company 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.