Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 55.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 620 shares of the company’s stock after acquiring an additional 222 shares during the quarter. GAMMA Investing LLC’s holdings in Revolution Medicines were worth $28,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RVMD. Headlands Technologies LLC lifted its stake 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 buying an additional 885 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Revolution Medicines during the 1st quarter worth $104,000. EntryPoint Capital LLC purchased a new stake in shares of Revolution Medicines in the first quarter valued at about $107,000. Nisa Investment Advisors LLC grew 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 valued at $131,000 after buying an additional 320 shares during the last quarter. Finally, Natixis purchased a new position in Revolution Medicines in the 1st quarter valued at about $196,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on RVMD shares. Barclays lifted their price target on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Bank of America raised their target price on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $61.00 price target on shares of Revolution Medicines in a report on Monday, October 7th. Jefferies Financial Group started coverage on Revolution Medicines in a research report on Monday, July 8th. They issued a “buy” rating and a $63.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $56.00 price objective on shares of Revolution Medicines in a research report on Monday, August 12th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $54.00.

Insider Activity

In related news, Director Barbara Weber sold 5,200 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the transaction, the director now directly owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Barbara Weber sold 5,200 shares of Revolution Medicines stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the sale, the director now owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Michael Kelsey sold 16,666 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $49.49, for a total value of $824,800.34. Following the completion of the sale, the insider now owns 264,408 shares of the company’s stock, valued at approximately $13,085,551.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,866 shares of company stock worth $6,814,424 over the last three months. Corporate insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $50.43 on Friday. The firm has a market cap of $8.42 billion, a P/E ratio of -13.85 and a beta of 1.43. Revolution Medicines, Inc. has a 52 week low of $15.44 and a 52 week high of $51.00. The business’s fifty day moving average is $44.82 and its two-hundred day moving average is $41.29.

Revolution Medicines (NASDAQ:RVMD) last announced 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 business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.81 million. The business’s revenue was down 73.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.92) earnings per share. On average, equities research analysts predict that Revolution Medicines, Inc. will post -3.35 earnings per share for the current year.

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.