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

Raymond James & Associates increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 156.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,505 shares of the company’s stock after acquiring an additional 116,135 shares during the period. Raymond James & Associates’ holdings in Revolution Medicines were worth $8,639,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after acquiring an additional 222 shares in the last quarter. Headlands Technologies LLC raised its position 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 in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Revolution Medicines in the 1st quarter valued at about $104,000. EntryPoint Capital LLC acquired a new stake in Revolution Medicines in the 1st quarter valued at about $107,000. Finally, Nisa Investment Advisors LLC raised its position 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 purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Trading Up 5.6 %

RVMD stock opened at $50.42 on Wednesday. The stock has a 50-day moving average price of $45.49 and a two-hundred day moving average price of $42.13. Revolution Medicines, Inc. has a 12-month low of $18.00 and a 12-month high of $51.00. The company has a market cap of $8.42 billion, a PE ratio of -13.45 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $0.81 million. During the same period in the previous year, the business posted ($0.92) earnings per share. The company’s revenue for the quarter was down 73.8% compared to the same quarter last year. Equities analysts forecast that Revolution Medicines, Inc. will post -3.35 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 10,000 shares of the company’s stock in a transaction dated 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 owns 311,885 shares of the company’s stock, valued at $14,309,283.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Barbara Weber sold 5,200 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $627,381.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 311,885 shares in the company, valued at approximately $14,309,283.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,866 shares of company stock valued at $6,814,424 over the last quarter. Company insiders own 8.00% of the company’s stock.

Wall Street Analysts Forecast Growth

RVMD has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $61.00 price target on shares of Revolution Medicines in a research report on Thursday, October 24th. Bank of America increased their price target on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. reduced their price target on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Barclays increased their price objective on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a report on Thursday, August 8th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $56.75.

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.