Citizens Financial Group Inc. RI Buys Shares of 28,562 Revolution Medicines, Inc. (NASDAQ:RVMD)

Citizens Financial Group Inc. RI purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 28,562 shares of the company’s stock, valued at approximately $1,108,000.

A number of other hedge funds have also recently made changes to their positions in RVMD. Headlands Technologies LLC raised its holdings in Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Revolution Medicines during the first quarter valued at approximately $104,000. EntryPoint Capital LLC acquired a new stake in Revolution Medicines in the first quarter valued at approximately $107,000. Nisa Investment Advisors LLC grew its holdings in Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after purchasing an additional 320 shares during the last quarter. Finally, Natixis acquired a new position in shares of Revolution Medicines during the first quarter worth $196,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on RVMD. Oppenheimer boosted their target price on Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Wedbush reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Barclays boosted their target price on shares of Revolution Medicines from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on shares of Revolution Medicines in a report on Monday, July 8th. They set a “buy” rating and a $63.00 price objective on the stock. 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, the stock has a consensus rating of “Buy” and an average price target of $52.92.

Insider Buying and Selling

In other news, General Counsel Jeff Cislini sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total value of $76,940.00. Following the sale, the general counsel now directly owns 49,487 shares of the company’s stock, valued at approximately $1,903,764.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Revolution Medicines news, General Counsel Jeff Cislini sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total value of $76,940.00. Following the sale, the general counsel now owns 49,487 shares of the company’s stock, valued at $1,903,764.89. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $44.00, for a total value of $94,820.00. Following the transaction, the director now owns 19,948 shares in the company, valued at $877,712. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,421 shares of company stock valued at $2,637,077. 8.00% of the stock is currently owned by insiders.

Revolution Medicines Stock Performance

Shares of RVMD opened at $43.77 on Wednesday. The business’s 50-day moving average is $43.89 and its two-hundred day moving average is $38.92. The company has a market capitalization of $7.31 billion, a P/E ratio of -11.67 and a beta of 1.43. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $48.61.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data 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 revenue was down 73.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.92) earnings per share. Analysts forecast that Revolution Medicines, Inc. will post -3.47 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.