Revolution Medicines, Inc. (NASDAQ:RVMD) Director Thilo Schroeder Acquires 1,304,347 Shares

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Thilo Schroeder bought 1,304,347 shares of the stock in a transaction on Thursday, December 5th. The shares were bought at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the acquisition, the director now owns 2,096,612 shares in the company, valued at $96,444,152. The trade was a 164.64 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $47.04 on Tuesday. The company has a market cap of $7.91 billion, a price-to-earnings ratio of -13.10 and a beta of 1.40. Revolution Medicines, Inc. has a 12 month low of $23.51 and a 12 month high of $62.40. The stock’s 50-day moving average is $52.36 and its 200-day moving average is $45.67.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the previous year, the firm posted ($0.99) EPS. Research analysts anticipate that Revolution Medicines, Inc. will post -3.51 EPS for the current year.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after purchasing an additional 222 shares during the period. Quarry LP purchased a new stake in shares of Revolution Medicines during the 3rd quarter valued at about $82,000. Values First Advisors Inc. acquired a new position in Revolution Medicines during the 3rd quarter worth approximately $93,000. KBC Group NV boosted its holdings in Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after acquiring an additional 368 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Revolution Medicines by 10.5% during the second 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 period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RVMD. Needham & Company LLC reaffirmed a “buy” rating and set a $68.00 price objective on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Barclays raised their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Piper Sandler boosted their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Guggenheim boosted their price target on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Eleven 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, the company currently has an average rating of “Buy” and a consensus price target of $63.67.

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.