1,200,000 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Acquired by Logos Global Management LP

Logos Global Management LP bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,200,000 shares of the company's stock, valued at approximately $46,572,000. Revolution Medicines accounts for 3.7% of Logos Global Management LP's holdings, making the stock its 7th largest position. Logos Global Management LP owned approximately 0.73% of Revolution Medicines at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC grew its position in shares of Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company's stock worth $49,000 after buying an additional 885 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Revolution Medicines during the first quarter worth $104,000. EntryPoint Capital LLC acquired a new stake in Revolution Medicines in the first quarter worth $107,000. Nisa Investment Advisors LLC increased its stake in Revolution Medicines by 10.5% in 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 in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Revolution Medicines by 7.4% during the second quarter. Amalgamated Bank now owns 5,272 shares of the company's stock valued at $205,000 after purchasing an additional 365 shares during the period. Institutional investors and hedge funds own 94.34% of the company's stock.

Wall Street Analyst Weigh In

RVMD has been the subject of a number of research analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. Bank of America upped their target price on Revolution Medicines from $48.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, July 16th. HC Wainwright reissued a "buy" rating and issued a $56.00 price target on shares of Revolution Medicines in a research report on Monday, August 12th. Needham & Company LLC decreased 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 note on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of Revolution Medicines in a research note on Monday, July 8th. They issued a "buy" rating and a $63.00 price objective on the stock. Ten 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.com, the stock presently has a consensus rating of "Buy" and an average target price of $53.45.

Insider Transactions at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $45.88, for a total transaction of $458,800.00. Following the completion of the transaction, the insider now owns 311,885 shares in the company, valued at $14,309,283.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Mark A. Goldsmith sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $45.88, for a total value of $458,800.00. Following the transaction, the insider now owns 311,885 shares in the company, valued at $14,309,283.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Michael Kelsey sold 16,667 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $46.47, for a total value of $774,515.49. Following the transaction, the insider now directly owns 269,073 shares of the company's stock, valued at $12,503,822.31. The disclosure for this sale can be found here. Insiders have sold 58,221 shares of company stock worth $2,629,277 in the last ninety days. Company insiders own 8.00% of the company's stock.

Revolution Medicines Trading Up 4.2 %

Shares of RVMD traded up $1.77 during trading hours on Tuesday, reaching $44.40. 1,633,384 shares of the stock traded hands, compared to its average volume of 1,341,204. Revolution Medicines, Inc. has a 52 week low of $15.44 and a 52 week high of $48.61. The company has a market cap of $7.33 billion, a price-to-earnings ratio of -11.84 and a beta of 1.43. The stock has a fifty day simple moving average of $43.87 and a 200 day simple moving average of $39.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.77) by ($0.04). The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.81 million. During the same quarter in the prior year, the business earned ($0.92) EPS. The company's revenue for the quarter was down 73.8% compared to the same quarter last year. Analysts predict that Revolution Medicines, Inc. will post -3.47 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.