Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 19.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 437,750 shares of the company’s stock after selling 104,851 shares during the period. Victory Capital Management Inc.’s holdings in Revolution Medicines were worth $19,852,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RVMD. Baker BROS. Advisors LP lifted its position in Revolution Medicines by 46.6% during the 1st quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company’s stock worth $243,312,000 after acquiring an additional 2,400,592 shares in the last quarter. Farallon Capital Management LLC raised its position in shares of Revolution Medicines by 30.0% in the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock valued at $378,696,000 after purchasing an additional 2,249,820 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Revolution Medicines by 77.9% in the 1st quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock valued at $126,067,000 after purchasing an additional 1,712,639 shares in the last quarter. Logos Global Management LP acquired a new position in shares of Revolution Medicines in the 2nd quarter valued at approximately $46,572,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Revolution Medicines in the 2nd quarter valued at approximately $35,472,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Price Performance

Shares of RVMD opened at $54.24 on Tuesday. The company has a market cap of $9.12 billion, a P/E ratio of -15.11 and a beta of 1.40. The stock has a fifty day moving average price of $49.38 and a 200 day moving average price of $44.13. Revolution Medicines, Inc. has a 12 month low of $20.51 and a 12 month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last issued 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 company posted ($0.99) earnings per share. As a group, research analysts anticipate that Revolution Medicines, Inc. will post -3.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RVMD shares. Wedbush reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. Barclays upped their target price on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Needham & Company LLC upped their target price on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Oppenheimer upped their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. boosted their price target on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines has an average rating of “Buy” and a consensus target price of $61.00.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 30,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at approximately $15,116,561.20. The trade was a 9.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.30, for a total value of $503,000.00. Following the transaction, the chief financial officer now owns 98,932 shares of the company’s stock, valued at $4,976,279.60. This trade represents a 9.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,866 shares of company stock worth $6,355,624 in the last three months. 8.00% of the stock is owned by insiders.

Revolution Medicines 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.