Revolution Medicines, Inc. $RVMD Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 11.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,498,327 shares of the company’s stock after selling 338,901 shares during the quarter. JPMorgan Chase & Co. owned about 1.29% of Revolution Medicines worth $116,672,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nextech Invest Ltd. grew its position in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Bellevue Group AG boosted its stake in shares of Revolution Medicines by 4.7% during the second quarter. Bellevue Group AG now owns 4,579,300 shares of the company’s stock worth $168,472,000 after buying an additional 205,000 shares during the period. Norges Bank purchased a new position in shares of Revolution Medicines during the second quarter worth about $62,584,000. Westfield Capital Management Co. LP grew its holdings in shares of Revolution Medicines by 55.0% during the second quarter. Westfield Capital Management Co. LP now owns 1,649,404 shares of the company’s stock worth $60,682,000 after buying an additional 585,358 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new position in Revolution Medicines in the 2nd quarter valued at about $44,148,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 5,447 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total value of $418,438.54. Following the completion of the transaction, the insider directly owned 278,600 shares of the company’s stock, valued at approximately $21,402,052. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark A. Goldsmith sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $75.08, for a total value of $4,504,800.00. Following the sale, the insider directly owned 247,863 shares in the company, valued at $18,609,554.04. This trade represents a 19.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 173,792 shares of company stock valued at $15,239,440. 8.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on RVMD. Wolfe Research initiated coverage on Revolution Medicines in a research report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price objective for the company. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Needham & Company LLC upped their price objective on shares of Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Revolution Medicines currently has a consensus rating of “Buy” and an average price target of $78.94.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $101.83 on Monday. The firm’s fifty day simple moving average is $96.62 and its 200-day simple moving average is $68.45. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16. The stock has a market cap of $19.69 billion, a PE ratio of -19.70 and a beta of 1.00. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $124.49.

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.