10,164 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Purchased by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,164 shares of the company's stock, valued at approximately $461,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Revolution Medicines by 1,109.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 38,589 shares of the company's stock worth $1,750,000 after buying an additional 35,399 shares in the last quarter. Raymond James & Associates lifted its stake in Revolution Medicines by 156.2% in the 3rd quarter. Raymond James & Associates now owns 190,505 shares of the company's stock worth $8,639,000 after purchasing an additional 116,135 shares in the last quarter. Sei Investments Co. bought a new position in shares of Revolution Medicines during the 1st quarter valued at about $528,000. Rhumbline Advisers boosted its stake in Revolution Medicines by 9.2% during the second quarter. Rhumbline Advisers now owns 228,567 shares of the company's stock valued at $8,871,000 after buying an additional 19,257 shares during the last quarter. Finally, Sofinnova Investments Inc. purchased a new position in shares of Revolution Medicines in the second quarter valued at $17,662,000. 94.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RVMD. Wedbush reaffirmed an "outperform" rating and issued a $59.00 price target on shares of Revolution Medicines in a report on Thursday, August 8th. Oppenheimer raised their price objective on Revolution Medicines from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Needham & Company LLC lifted their target price on Revolution Medicines from $61.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. HC Wainwright increased their price target on Revolution Medicines from $62.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Guggenheim lifted their price objective on shares of Revolution Medicines from $72.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of "Buy" and an average price target of $61.00.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 10,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the sale, the insider now directly owns 300,170 shares of the company's stock, valued at $13,486,638.10. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barbara Weber sold 5,200 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction 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 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,866 shares of company stock worth $6,355,624. 8.00% of the stock is currently owned by company insiders.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $58.63 on Wednesday. Revolution Medicines, Inc. has a 12 month low of $20.98 and a 12 month high of $62.40. The company's 50-day moving average price is $51.10 and its 200-day moving average price is $44.92.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the previous year, the company earned ($0.99) EPS. As a group, equities research analysts expect that Revolution Medicines, Inc. will post -3.51 earnings per share for the current year.

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.

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