Holocene Advisors LP Lowers Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Holocene Advisors LP reduced its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,149,561 shares of the company’s stock after selling 53,913 shares during the quarter. Holocene Advisors LP owned about 1.28% of Revolution Medicines worth $97,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of RVMD. GAMMA Investing LLC boosted its position in shares of Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after buying an additional 320 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Revolution Medicines by 4.1% during the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock worth $384,000 after acquiring an additional 337 shares during the period. Amalgamated Bank increased its holdings in Revolution Medicines by 7.4% during the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after purchasing an additional 365 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RVMD. JPMorgan Chase & Co. lifted their price objective on shares of Revolution Medicines from $54.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Guggenheim raised their price target on shares of Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Needham & Company LLC increased their price objective on shares of Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright boosted their target price on shares of Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Oppenheimer increased their price target on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Revolution Medicines presently has an average rating of “Buy” and a consensus price target of $61.00.

Insiders Place Their Bets

In other news, insider Stephen Michael Kelsey sold 16,666 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the sale, the insider now owns 264,408 shares in the company, valued at approximately $13,085,551.92. The trade was a 5.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jack Anders sold 10,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.30, for a total value of $503,000.00. Following the completion of the sale, the chief financial officer now owns 98,932 shares of the company’s stock, valued at approximately $4,976,279.60. This represents a 9.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,866 shares of company stock valued at $6,355,624. Corporate insiders own 8.00% of the company’s stock.

Revolution Medicines Trading Down 6.4 %

Shares of NASDAQ RVMD opened at $54.16 on Monday. The stock has a market cap of $9.11 billion, a P/E ratio of -16.11 and a beta of 1.40. The stock has a 50 day moving average of $51.89 and a two-hundred day moving average of $45.35. Revolution Medicines, Inc. has a twelve month low of $23.38 and a twelve month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the previous year, the firm earned ($0.99) EPS. As a group, research analysts predict that Revolution Medicines, Inc. will post -3.51 earnings per share for the current year.

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.