Connor Clark & Lunn Investment Management Ltd. Buys New Shares in Revolution Medicines, Inc. (NASDAQ:RVMD)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 26,901 shares of the company's stock, valued at approximately $1,220,000.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company's stock worth $28,000 after buying an additional 222 shares during the last quarter. Values First Advisors Inc. bought a new stake in Revolution Medicines during the third quarter worth approximately $93,000. Nisa Investment Advisors LLC increased its stake 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 acquiring an additional 320 shares during the last quarter. KBC Group NV raised its position in Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company's stock valued at $146,000 after purchasing an additional 368 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of Revolution Medicines by 7.4% in the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company's stock worth $205,000 after purchasing an additional 365 shares during the period. Hedge funds and other institutional investors own 94.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. 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. Guggenheim raised their target price on shares of Revolution Medicines from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Needham & Company LLC upped 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. Oppenheimer increased their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday, October 28th. Finally, Wedbush restated an "outperform" rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Revolution Medicines currently has an average rating of "Buy" and a consensus target price of $61.00.

Insider Buying and Selling at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the completion of the sale, the insider now owns 300,170 shares in the company, valued at approximately $15,116,561.20. This represents a 9.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Barbara Weber sold 5,200 shares of the stock in a transaction dated 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 owns 13,065 shares of the company's stock, valued at approximately $627,381.30. This trade represents a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock worth $6,355,624 over the last quarter. Insiders own 8.00% of the company's stock.

Revolution Medicines Trading Up 2.0 %

NASDAQ RVMD opened at $58.63 on Wednesday. The firm's 50 day moving average price is $51.10 and its 200-day moving average price is $44.92. Revolution Medicines, Inc. has a 52-week low of $20.98 and a 52-week high of $62.40.

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