Exchange Traded Concepts LLC Sells 3,037 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Exchange Traded Concepts LLC decreased its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 44.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,760 shares of the company’s stock after selling 3,037 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Revolution Medicines were worth $171,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares during the period. Headlands Technologies LLC lifted its holdings in Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after acquiring an additional 885 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Revolution Medicines in the first quarter valued at about $104,000. EntryPoint Capital LLC purchased a new stake in Revolution Medicines in the first quarter worth about $107,000. Finally, Nisa Investment Advisors LLC increased its position in Revolution Medicines by 10.5% in 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. Institutional investors own 94.34% of the company’s stock.

Insider Activity

In other news, COO Margaret A. Horn sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.34, for a total value of $2,517,000.00. Following the completion of the sale, the chief operating officer now directly owns 132,320 shares of the company’s stock, valued at $6,660,988.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Margaret A. Horn sold 50,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the completion of the transaction, the chief operating officer now owns 132,320 shares in the company, valued at $6,660,988.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barbara Weber sold 5,200 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the transaction, the director now owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,866 shares of company stock valued at $6,814,424 in the last ninety days. Insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Down 5.3 %

NASDAQ:RVMD opened at $47.75 on Tuesday. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $51.00. The business has a 50 day simple moving average of $44.92 and a 200-day simple moving average of $41.55.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data 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 firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.81 million. Revolution Medicines’s revenue was down 73.8% on a year-over-year basis. During the same period last year, the firm earned ($0.92) earnings per share. Research analysts anticipate that Revolution Medicines, Inc. will post -3.35 EPS for the current fiscal year.

Analysts Set New Price Targets

RVMD has been the subject of a number of analyst reports. Barclays upped their price target on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. 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. Wedbush reiterated an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $56.00 target price on shares of Revolution Medicines in a research report on Monday, August 12th. Finally, Jefferies Financial Group initiated coverage on Revolution Medicines in a report on Monday, July 8th. They set a “buy” rating and a $63.00 price target for the company. Ten investment 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, the stock has an average rating of “Buy” and an average target price of $54.00.

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.