Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 156.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 190,505 shares of the company’s stock after purchasing an additional 116,135 shares during the quarter. Raymond James & Associates owned about 0.11% of Revolution Medicines worth $8,639,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Revolution Medicines in the first quarter worth about $6,656,000. Vanguard Group Inc. raised its position in Revolution Medicines by 0.8% during the first quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock valued at $475,622,000 after acquiring an additional 122,721 shares in the last quarter. Seven Eight Capital LP purchased a new position in Revolution Medicines during the first quarter valued at approximately $2,208,000. Price T Rowe Associates Inc. MD lifted its holdings in Revolution Medicines by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,814,310 shares of the company’s stock valued at $155,166,000 after acquiring an additional 177,957 shares during the period. Finally, Sei Investments Co. acquired a new position in Revolution Medicines in the first quarter valued at approximately $528,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RVMD. HC Wainwright reissued a “buy” rating and issued a $56.00 price target on shares of Revolution Medicines in a report on Monday, August 12th. Wedbush reissued an “outperform” rating and issued a $59.00 price target on shares of Revolution Medicines in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Jefferies Financial Group began coverage on Revolution Medicines in a report on Monday, July 8th. They issued a “buy” rating and a $63.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $61.00 price target on shares of Revolution Medicines in a report on Thursday, October 24th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and an average price target of $56.75.

Revolution Medicines Stock Performance

Shares of RVMD opened at $50.42 on Wednesday. Revolution Medicines, Inc. has a one year low of $18.00 and a one year high of $51.00. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of -13.45 and a beta of 1.43. The stock has a 50 day moving average price of $45.49 and a 200 day moving average price of $42.13.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) 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 business’s quarterly revenue was down 73.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.92) EPS. On average, analysts predict that Revolution Medicines, Inc. will post -3.35 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $45.88, for a total value of $458,800.00. Following the completion of the sale, the insider now directly owns 311,885 shares in the company, valued at $14,309,283.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $45.88, for a total transaction of $458,800.00. Following the completion of the transaction, the insider now directly owns 311,885 shares in the company, valued at approximately $14,309,283.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Barbara Weber sold 5,200 shares of the stock in a transaction on Tuesday, October 8th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,866 shares of company stock worth $6,814,424 in the last three months. 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.