Revolution Medicines, Inc. $RVMD Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 40.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,477 shares of the company’s stock after selling 49,068 shares during the quarter. Allianz Asset Management GmbH’s holdings in Revolution Medicines were worth $3,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Revolution Medicines by 45.1% in the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares in the last quarter. California State Teachers Retirement System increased its holdings in Revolution Medicines by 0.3% in the second quarter. California State Teachers Retirement System now owns 140,077 shares of the company’s stock valued at $5,153,000 after buying an additional 437 shares during the last quarter. CWM LLC raised its stake in Revolution Medicines by 171.3% during the second quarter. CWM LLC now owns 917 shares of the company’s stock valued at $34,000 after buying an additional 579 shares in the last quarter. Arizona State Retirement System raised its stake in Revolution Medicines by 1.6% during the third quarter. Arizona State Retirement System now owns 41,299 shares of the company’s stock valued at $1,929,000 after buying an additional 646 shares in the last quarter. Finally, Avanza Fonder AB lifted its holdings in Revolution Medicines by 17.5% during the 3rd quarter. Avanza Fonder AB now owns 4,335 shares of the company’s stock worth $202,000 after buying an additional 647 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 15,394 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $1,182,567.08. Following the completion of the transaction, the insider directly owned 232,469 shares of the company’s stock, valued at approximately $17,858,268.58. This trade represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Margaret A. Horn sold 75,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $100.56, for a total value of $7,542,000.00. Following the completion of the sale, the chief operating officer directly owned 141,053 shares in the company, valued at $14,184,289.68. This represents a 34.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 193,792 shares of company stock valued at $16,647,040. 8.20% of the stock is currently owned by company insiders.

Revolution Medicines Stock Up 2.1%

RVMD stock opened at $97.99 on Thursday. The firm’s 50-day moving average is $93.75 and its two-hundred day moving average is $65.19. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of -18.95 and a beta of 1.01. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $124.49. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RVMD shares. Raymond James Financial boosted their price target on Revolution Medicines from $72.00 to $76.00 and gave the company a “strong-buy” rating in a report on Friday, October 17th. HC Wainwright lifted their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. UBS Group upgraded shares of Revolution Medicines to a “strong-buy” rating in a research note on Thursday, December 4th. JPMorgan Chase & Co. increased their target price on shares of Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Finally, Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $78.94.

About Revolution Medicines

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.