Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by Xponance Inc.

Xponance Inc. increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 13.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,651 shares of the company’s stock after purchasing an additional 1,175 shares during the quarter. Xponance Inc.’s holdings in Revolution Medicines were worth $375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC lifted its holdings 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 Revolution Medicines during the 1st quarter worth about $104,000. EntryPoint Capital LLC purchased a new stake in Revolution Medicines during the 1st quarter worth about $107,000. Nisa Investment Advisors LLC lifted its holdings in Revolution Medicines by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after buying an additional 320 shares during the last quarter. Finally, Natixis purchased a new stake in Revolution Medicines during the 1st quarter worth about $196,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Stock Down 0.4 %

Shares of RVMD stock opened at $45.17 on Wednesday. The stock has a market capitalization of $7.45 billion, a PE ratio of -12.05 and a beta of 1.43. Revolution Medicines, Inc. has a 52-week low of $15.44 and a 52-week high of $48.61. The stock’s 50-day moving average price is $43.67 and its 200 day moving average price is $39.82.

Revolution Medicines (NASDAQ:RVMD) 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 company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.81 million. The firm’s revenue for the quarter was down 73.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.92) EPS. Analysts expect that Revolution Medicines, Inc. will post -3.35 earnings per share for the current fiscal year.

Insider Activity at Revolution Medicines

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RVMD shares. HC Wainwright reaffirmed a “buy” rating and set a $56.00 price target on shares of Revolution Medicines in a report on Monday, August 12th. JPMorgan Chase & Co. reduced their target price on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Barclays boosted their target price on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Jefferies Financial Group initiated coverage on Revolution Medicines in a report on Monday, July 8th. They issued a “buy” rating and a $63.00 target price for the company. Finally, Bank of America boosted their target price on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $54.00.

About Revolution Medicines

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.