Hsbc Holdings PLC Sells 152,236 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Hsbc Holdings PLC lowered its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 91.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,913 shares of the company’s stock after selling 152,236 shares during the period. Hsbc Holdings PLC’s holdings in Revolution Medicines were worth $567,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC raised its holdings in Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after acquiring an additional 885 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Revolution Medicines in the first quarter valued at about $104,000. EntryPoint Capital LLC bought a new stake in Revolution Medicines during the first quarter worth about $107,000. Nisa Investment Advisors LLC grew its stake 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 buying an additional 320 shares in the last quarter. Finally, Natixis bought a new position in Revolution Medicines in the 1st quarter valued at about $196,000. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Trading Up 2.7 %

Revolution Medicines stock opened at $45.35 on Tuesday. The stock has a 50-day moving average price of $43.70 and a two-hundred day moving average price of $39.73. Revolution Medicines, Inc. has a 12 month low of $15.44 and a 12 month high of $48.61. The company has a market capitalization of $7.58 billion, a PE ratio of -12.09 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.81 million. During the same period in the previous year, the business posted ($0.92) EPS. Revolution Medicines’s revenue was down 73.8% compared to the same quarter last year. As a group, analysts predict that Revolution Medicines, Inc. will post -3.47 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $45.88, for a total value of $458,800.00. Following the completion of the sale, the insider now directly owns 311,885 shares in the company, valued at $14,309,283.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $97,951.17. Following the sale, the general counsel now directly owns 47,088 shares of the company’s stock, valued at approximately $1,922,603.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark A. Goldsmith sold 10,000 shares of Revolution Medicines stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $45.88, for a total transaction of $458,800.00. Following the transaction, the insider now directly owns 311,885 shares of the company’s stock, valued at approximately $14,309,283.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,221 shares of company stock valued at $2,552,337. Insiders own 8.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC cut their price target on shares of Revolution Medicines from $62.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Bank of America upped their target price on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Oppenheimer boosted their price target on Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Wedbush restated an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $56.00 target price on shares of Revolution Medicines in a research report on Monday, August 12th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $54.00.

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.