Allspring Global Investments Holdings LLC Acquires 35,399 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Allspring Global Investments Holdings LLC lifted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 1,109.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,589 shares of the company’s stock after acquiring an additional 35,399 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Revolution Medicines were worth $1,750,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RVMD. GAMMA Investing LLC boosted its holdings in Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after purchasing an additional 222 shares during the period. Headlands Technologies LLC lifted its stake in shares of 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 buying an additional 885 shares during the period. EntryPoint Capital LLC acquired a new stake in Revolution Medicines during the first quarter worth about $107,000. Nisa Investment Advisors LLC increased 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 valued at $131,000 after acquiring an additional 320 shares during the period. Finally, Natixis acquired a new position in Revolution Medicines in the 1st quarter valued at approximately $196,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Up 0.2 %

NASDAQ RVMD opened at $50.50 on Thursday. Revolution Medicines, Inc. has a 1-year low of $18.00 and a 1-year high of $51.10. The company has a 50 day moving average of $45.59 and a 200-day moving average of $42.18. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of -13.47 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.81 million. Revolution Medicines’s quarterly revenue was down 73.8% on a year-over-year basis. During the same period last year, the company earned ($0.92) earnings per share. On average, analysts forecast that Revolution Medicines, Inc. will post -3.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $61.00 price objective on shares of Revolution Medicines in a report on Thursday, October 24th. Bank of America boosted their price target on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Wedbush reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a report on Thursday, August 8th. Guggenheim upped their target price on shares of Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $56.75.

Insider Activity

In related news, insider Mark A. Goldsmith sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the transaction, the insider now owns 300,170 shares in the company, valued at $13,486,638.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mark A. Goldsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the transaction, the insider now owns 300,170 shares in the company, valued at $13,486,638.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Margaret A. Horn sold 50,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 132,320 shares in the company, valued at approximately $6,660,988.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,866 shares of company stock worth $6,355,624. 8.00% of the stock is owned by corporate 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.