SG Americas Securities LLC Trims Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

SG Americas Securities LLC lowered its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 93.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,595 shares of the company’s stock after selling 54,206 shares during the period. SG Americas Securities LLC’s holdings in Revolution Medicines were worth $103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RVMD. Voya Investment Management LLC raised its holdings in Revolution Medicines by 1.3% in the fourth quarter. Voya Investment Management LLC now owns 28,543 shares of the company’s stock worth $680,000 after purchasing an additional 370 shares in the last quarter. Legal & General Group Plc lifted its position in Revolution Medicines by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 44,308 shares of the company’s stock valued at $863,000 after acquiring an additional 449 shares during the period. State of Wisconsin Investment Board lifted its position in Revolution Medicines by 0.8% during the 4th quarter. State of Wisconsin Investment Board now owns 61,555 shares of the company’s stock valued at $1,466,000 after acquiring an additional 464 shares during the period. US Bancorp DE boosted its stake in Revolution Medicines by 68.1% during the second quarter. US Bancorp DE now owns 1,575 shares of the company’s stock worth $42,000 after acquiring an additional 638 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Revolution Medicines by 5.3% in the third quarter. Amalgamated Bank now owns 15,587 shares of the company’s stock worth $431,000 after purchasing an additional 787 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $34.92 on Friday. Revolution Medicines, Inc. has a one year low of $15.44 and a one year high of $38.73. The business’s fifty day moving average is $31.70 and its 200 day moving average is $27.59. The stock has a market capitalization of $5.75 billion, a PE ratio of -9.26 and a beta of 1.54.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The firm had revenue of $0.74 million for the quarter, compared to analysts’ expectations of $1.20 million. During the same quarter in the previous year, the firm posted ($0.63) earnings per share. The firm’s revenue was down 95.2% on a year-over-year basis. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on RVMD. Wedbush lifted their target price on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Bank of America raised Revolution Medicines from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $34.00 in a report on Friday, January 5th. Needham & Company LLC restated a “buy” rating and set a $46.00 price target (up from $36.00) on shares of Revolution Medicines in a report on Monday, April 8th. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $36.00 to $48.00 in a research note on Wednesday, April 10th. Finally, Oppenheimer increased their price objective on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus price target of $41.20.

Insider Buying and Selling

In other Revolution Medicines news, General Counsel Jeff Cislini sold 1,500 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $27.00, for a total transaction of $40,500.00. Following the completion of the sale, the general counsel now directly owns 36,126 shares in the company, valued at approximately $975,402. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, General Counsel Jeff Cislini sold 1,500 shares of Revolution Medicines stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $27.00, for a total value of $40,500.00. Following the completion of the sale, the general counsel now owns 36,126 shares of the company’s stock, valued at $975,402. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 2,914 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $31.58, for a total value of $92,024.12. Following the sale, the chief operating officer now owns 139,553 shares of the company’s stock, valued at approximately $4,407,083.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,205 shares of company stock worth $671,249. 8.50% 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.