Citigroup Inc. Acquires 26,871 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Citigroup Inc. boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 29.5% in the third quarter, Holdings Channel reports. The institutional investor owned 117,938 shares of the company’s stock after purchasing an additional 26,871 shares during the period. Citigroup Inc.’s holdings in Revolution Medicines were worth $5,348,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after acquiring an additional 222 shares during the last quarter. Values First Advisors Inc. bought a new position in Revolution Medicines in the 3rd quarter worth about $93,000. Nisa Investment Advisors LLC grew its position 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 purchasing an additional 320 shares during the last quarter. KBC Group NV increased its stake in Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after purchasing an additional 368 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in Revolution Medicines by 7.4% in the second quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after buying an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $57.85 on Monday. The stock’s 50-day simple moving average is $51.89 and its two-hundred day simple moving average is $45.35. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of -16.11 and a beta of 1.40. Revolution Medicines, Inc. has a 52-week low of $22.77 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the prior year, the firm earned ($0.99) EPS. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -3.51 earnings per share for the current fiscal year.

Insider Transactions at Revolution Medicines

In related news, Director Barbara Weber sold 5,200 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the completion of the sale, the director now directly owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This represents a 28.47 % decrease in their position. 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 Revolution Medicines stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the transaction, the insider now directly owns 300,170 shares in the company, valued at $13,486,638.10. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock worth $6,355,624 in the last 90 days. 8.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Needham & Company LLC increased their price target on shares of Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 7th. HC Wainwright increased their target price on Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $59.00 price target on shares of Revolution Medicines in a research note on Thursday, August 8th. Guggenheim increased their price objective on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Revolution Medicines from $54.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Revolution Medicines currently has a consensus rating of “Buy” and a consensus price target of $61.00.

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.