Raymond James & Associates lifted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 156.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 190,505 shares of the company's stock after acquiring an additional 116,135 shares during the period. Raymond James & Associates owned 0.11% of Revolution Medicines worth $8,639,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Revolution Medicines by 0.8% in the first quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company's stock valued at $475,622,000 after acquiring an additional 122,721 shares during the period. Farallon Capital Management LLC grew its position in Revolution Medicines by 30.0% in the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company's stock valued at $378,696,000 after purchasing an additional 2,249,820 shares during the period. Baker BROS. Advisors LP increased its stake in Revolution Medicines by 46.6% during the 1st quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company's stock valued at $243,312,000 after purchasing an additional 2,400,592 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Revolution Medicines by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,814,310 shares of the company's stock worth $155,166,000 after buying an additional 177,957 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Revolution Medicines by 77.9% in the first quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company's stock valued at $126,067,000 after buying an additional 1,712,639 shares in the last quarter. 94.34% of the stock is owned by institutional investors.
Revolution Medicines Stock Performance
RVMD stock traded up $0.08 during mid-day trading on Wednesday, hitting $50.50. The company had a trading volume of 1,346,689 shares, compared to its average volume of 1,314,538. The firm has a market cap of $8.44 billion, a PE ratio of -13.45 and a beta of 1.43. Revolution Medicines, Inc. has a 12 month low of $18.00 and a 12 month high of $51.10. The stock's fifty day moving average price is $45.49 and its two-hundred day moving average price is $42.13.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate 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 last year, the firm posted ($0.92) EPS. The company's revenue was down 73.8% compared to the same quarter last year. Equities analysts anticipate that Revolution Medicines, Inc. will post -3.35 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have recently commented on RVMD. Bank of America boosted their target price on shares of Revolution Medicines from $48.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. lowered their price objective on Revolution Medicines from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Barclays lifted their target price on Revolution Medicines from $54.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Jefferies Financial Group initiated coverage on Revolution Medicines in a research report on Monday, July 8th. They issued a "buy" rating and a $63.00 price target for the company. Finally, Wedbush reaffirmed an "outperform" rating and set a $59.00 price objective on shares of Revolution Medicines in a report on Thursday, August 8th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $56.75.
Read Our Latest Stock Analysis on Revolution Medicines
Insider Transactions at Revolution Medicines
In related news, insider Stephen Michael Kelsey sold 16,666 shares of the business's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the sale, the insider now directly owns 264,408 shares in the company, valued at approximately $13,085,551.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Barbara Weber sold 5,200 shares of the firm's stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total value of $249,704.00. Following the completion of the transaction, the director now directly owns 13,065 shares of the company's stock, valued at $627,381.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Michael Kelsey sold 16,666 shares of Revolution Medicines stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total value of $824,800.34. Following the completion of the transaction, the insider now owns 264,408 shares of the company's stock, valued at approximately $13,085,551.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,866 shares of company stock worth $6,814,424. 8.00% of the stock is owned by company insiders.
Revolution Medicines Profile
(
Free Report)
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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