Point72 Asia Singapore Pte. Ltd. Invests $232,000 in Revolution Medicines, Inc. (NASDAQ:RVMD)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,966 shares of the company’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in Revolution Medicines by 10.5% in 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 period. Amalgamated Bank raised its stake in Revolution Medicines by 7.4% during the second quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after acquiring an additional 365 shares in the last quarter. Headlands Technologies LLC lifted its stake in Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after purchasing an additional 885 shares during the last quarter. Clear Harbor Asset Management LLC boosted its position in Revolution Medicines by 10.2% in the second quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock valued at $436,000 after buying an additional 1,036 shares in the last quarter. Finally, Seven Eight Capital LP grew its stake in shares of Revolution Medicines by 1.6% during the second quarter. Seven Eight Capital LP now owns 69,602 shares of the company’s stock worth $2,701,000 after buying an additional 1,108 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on RVMD. Jefferies Financial Group assumed 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. Oppenheimer raised their price target on shares of Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Needham & Company LLC decreased their price objective on Revolution Medicines from $62.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wedbush reiterated an “outperform” rating and issued a $59.00 price target on shares of Revolution Medicines in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their price objective on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and an average target price of $54.00.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 25,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $45.05, for a total value of $1,126,250.00. Following the transaction, the insider now owns 311,885 shares in the company, valued at $14,050,419.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Revolution Medicines news, insider Mark A. Goldsmith sold 25,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $45.05, for a total transaction of $1,126,250.00. Following the transaction, the insider now owns 311,885 shares in the company, valued at $14,050,419.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction dated Tuesday, July 9th. The shares were 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 of the company’s stock, valued at $877,712. The disclosure for this sale can be found here. Insiders have sold 56,221 shares of company stock valued at $2,552,337 in the last 90 days. 8.00% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $45.98 on Thursday. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of -12.26 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 $43.66 and its two-hundred day moving average price is $39.86.

Revolution Medicines (NASDAQ:RVMD) last issued its 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 for the quarter, compared to analyst estimates of $0.81 million. The firm’s quarterly revenue was down 73.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.92) earnings per share. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -3.35 EPS 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.