XTX Topco Ltd Buys New Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

XTX Topco Ltd purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, Holdings Channel.com reports. The fund purchased 23,717 shares of the company’s stock, valued at approximately $920,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its position in shares of 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 acquiring an additional 885 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Revolution Medicines in the 1st quarter worth about $104,000. EntryPoint Capital LLC acquired a new position in Revolution Medicines in the 1st quarter worth about $107,000. Nisa Investment Advisors LLC boosted its position in Revolution Medicines by 10.5% during 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 in the last quarter. Finally, Natixis acquired a new stake in Revolution Medicines in the first quarter valued at approximately $196,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $56.00 target price on shares of Revolution Medicines in a research note on Monday, August 12th. Bank of America increased their price objective on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Jefferies Financial Group started coverage on shares of Revolution Medicines in a research report on Monday, July 8th. They issued a “buy” rating and a $63.00 target price on the stock. Needham & Company LLC reduced their price target on shares of Revolution Medicines from $62.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Barclays lifted their price objective on Revolution Medicines from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and an average target price of $53.45.

Insider Activity

In related news, General Counsel Jeff Cislini sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total transaction of $76,940.00. Following the completion of the sale, the general counsel now directly owns 49,487 shares in the company, valued at $1,903,764.89. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, General Counsel Jeff Cislini sold 2,000 shares of the company’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 transaction, the general counsel now directly owns 49,487 shares in the company, valued at $1,903,764.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sushil Patel sold 2,155 shares of the firm’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 sale, the director now directly owns 19,948 shares of the company’s stock, valued at approximately $877,712. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,421 shares of company stock valued at $2,637,077. 8.00% of the stock is currently owned by insiders.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $45.42 on Friday. The stock’s 50 day simple moving average is $43.98 and its 200-day simple moving average is $39.18. The stock has a market cap of $7.59 billion, a P/E ratio of -12.11 and a beta of 1.43. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $48.61.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share 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 the consensus estimate of $0.81 million. The business’s revenue was down 73.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.92) earnings per share. As a group, research analysts expect that Revolution Medicines, Inc. will post -3.47 EPS for the current fiscal 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.