Amalgamated Bank Acquires 435 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Amalgamated Bank grew its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,707 shares of the company’s stock after acquiring an additional 435 shares during the quarter. Amalgamated Bank’s holdings in Revolution Medicines were worth $250,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. CIBC Asset Management Inc increased its holdings in shares of Revolution Medicines by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock worth $220,000 after acquiring an additional 270 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Revolution Medicines by 4.1% in the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock worth $384,000 after acquiring an additional 337 shares in the last quarter. KBC Group NV boosted its position in shares of Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares during the period. IFP Advisors Inc acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $34,000. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Revolution Medicines by 3.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 49,807 shares of the company’s stock worth $2,179,000 after buying an additional 1,623 shares during the period. 94.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RVMD. Stifel Nicolaus reduced their price objective on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, February 27th. UBS Group upped their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Guggenheim increased their price target on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler increased their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Twelve 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.com, the company presently has a consensus rating of “Buy” and a consensus price target of $66.31.

Revolution Medicines Stock Down 1.0 %

NASDAQ:RVMD opened at $37.96 on Wednesday. The stock’s 50 day moving average price is $41.91 and its two-hundred day moving average price is $46.15. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of -10.57 and a beta of 1.45. Revolution Medicines, Inc. has a 12-month low of $29.15 and a 12-month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Equities research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, Director Thilo Schroeder bought 1,304,347 shares of the stock in a transaction dated Thursday, December 5th. The shares were bought at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the purchase, the director now owns 2,096,612 shares in the company, valued at approximately $96,444,152. This trade represents a 164.64 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Margaret A. Horn sold 4,329 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the transaction, the chief operating officer now owns 127,991 shares in the company, valued at approximately $5,810,791.40. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,678 shares of company stock worth $847,981 over the last 90 days. Company insiders own 8.00% of the company’s stock.

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.