Profund Advisors LLC Cuts Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Profund Advisors LLC lessened its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,708 shares of the company’s stock after selling 1,542 shares during the quarter. Profund Advisors LLC owned 0.06% of Revolution Medicines worth $1,597,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new position in Revolution Medicines during the 2nd quarter valued at about $39,000. US Bancorp DE increased its holdings in Revolution Medicines by 68.1% during the 2nd quarter. US Bancorp DE now owns 1,575 shares of the company’s stock valued at $42,000 after acquiring an additional 638 shares in the last quarter. Strs Ohio purchased a new position in Revolution Medicines during the 2nd quarter valued at about $45,000. Tower Research Capital LLC TRC increased its holdings in Revolution Medicines by 76.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the company’s stock valued at $74,000 after acquiring an additional 1,481 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Revolution Medicines by 49.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,693 shares of the company’s stock valued at $126,000 after acquiring an additional 1,561 shares in the last quarter.

Revolution Medicines Stock Up 1.9 %

Shares of RVMD stock opened at $21.73 on Tuesday. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -6.67 and a beta of 1.47. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $35.60. The firm’s 50 day moving average price is $25.30 and its two-hundred day moving average price is $26.90.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Monday, November 6th. The company reported ($0.99) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.02. Revolution Medicines had a negative net margin of 1,003.36% and a negative return on equity of 38.92%. During the same quarter in the previous year, the business earned ($0.87) EPS. On average, equities analysts forecast that Revolution Medicines, Inc. will post -3.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on RVMD. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price target on shares of Revolution Medicines in a report on Tuesday, November 7th. HC Wainwright lowered their price target on shares of Revolution Medicines from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, November 13th. Stifel Nicolaus lifted their price target on shares of Revolution Medicines from $37.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. Raymond James started coverage on shares of Revolution Medicines in a report on Thursday, November 16th. They set an “outperform” rating and a $30.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Revolution Medicines from $47.00 to $39.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.50.

Insider Transactions at Revolution Medicines

In other news, Director Barbara Weber sold 15,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $35.07, for a total transaction of $526,050.00. Following the transaction, the director now directly owns 15,825 shares of the company’s stock, valued at $554,982.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Barbara Weber sold 15,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $35.07, for a total transaction of $526,050.00. Following the transaction, the director now directly owns 15,825 shares of the company’s stock, valued at $554,982.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Jeff Cislini sold 1,500 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $21.70, for a total transaction of $32,550.00. Following the transaction, the general counsel now directly owns 38,513 shares in the company, valued at $835,732.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,382 shares of company stock valued at $4,427,228. Corporate insiders own 8.50% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic tumors.