Marshall Wace LLP Sells 719,885 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Marshall Wace LLP decreased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 46.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 816,055 shares of the company's stock after selling 719,885 shares during the quarter. Marshall Wace LLP owned approximately 0.49% of Revolution Medicines worth $31,671,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in RVMD. Headlands Technologies LLC raised its position in Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company's stock worth $49,000 after buying an additional 885 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Revolution Medicines in the first quarter valued at $104,000. EntryPoint Capital LLC acquired a new position in shares of Revolution Medicines during the 1st quarter valued at about $107,000. Nisa Investment Advisors LLC increased its position in Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company's stock worth $131,000 after purchasing an additional 320 shares during the last quarter. Finally, Natixis purchased a new position in shares of Revolution Medicines in the 1st quarter worth $196,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on RVMD shares. Wedbush restated an "outperform" rating and set a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. Bank of America increased their target price on Revolution Medicines from $48.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, July 16th. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a research report on Monday, July 8th. They set a "buy" rating and a $63.00 price objective for the company. Oppenheimer increased their target price on Revolution Medicines from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 16th. Finally, Barclays boosted their price target on Revolution Medicines from $52.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 18th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Revolution Medicines currently has an average rating of "Buy" and a consensus target price of $53.45.

Insider Buying and Selling

In other news, General Counsel Jeff Cislini sold 2,399 shares of the firm's stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $40.83, for a total transaction of $97,951.17. Following the transaction, the general counsel now directly owns 47,088 shares of the company's stock, valued at $1,922,603.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Jeff Cislini sold 2,399 shares of the company's stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $40.83, for a total transaction of $97,951.17. Following the completion of the transaction, the general counsel now directly owns 47,088 shares in the company, valued at $1,922,603.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sushil Patel sold 2,155 shares of the firm's stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $44.00, for a total transaction of $94,820.00. Following the completion of the transaction, the director now owns 19,948 shares of the company's stock, valued at approximately $877,712. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,221 shares of company stock valued at $2,552,337. Company insiders own 8.00% of the company's stock.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $43.86 on Friday. The stock has a market capitalization of $7.33 billion, a PE ratio of -11.70 and a beta of 1.43. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $48.61. The business's 50-day simple moving average is $43.79 and its 200-day simple moving average is $39.47.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The business had revenue of $1.00 million for the quarter, compared to analysts' expectations of $0.81 million. The company's revenue was down 73.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.92) EPS. On average, research analysts expect that Revolution Medicines, Inc. will post -3.47 earnings per share for the current year.

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.