Principal Financial Group Inc. cut its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 46.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,947 shares of the company's stock after selling 11,275 shares during the period. Principal Financial Group Inc.'s holdings in Revolution Medicines were worth $587,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its position 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 in the last quarter. Values First Advisors Inc. acquired a new position in Revolution Medicines during the third quarter worth about $93,000. Nisa Investment Advisors LLC lifted its holdings in shares of 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. Amalgamated Bank grew its position in shares of Revolution Medicines by 7.4% in 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 last quarter. Finally, Vontobel Holding Ltd. purchased a new position in shares of Revolution Medicines during the 3rd quarter worth approximately $246,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.
Revolution Medicines Trading Up 1.3 %
Shares of RVMD traded up $0.75 during mid-day trading on Monday, reaching $57.50. The company had a trading volume of 1,890,191 shares, compared to its average volume of 1,336,142. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of -16.02 and a beta of 1.40. The firm has a fifty day simple moving average of $50.80 and a 200-day simple moving average of $44.77. Revolution Medicines, Inc. has a fifty-two week low of $20.98 and a fifty-two week high of $62.40.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data 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 period in the prior year, the firm posted ($0.99) EPS. As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.51 EPS for the current fiscal year.
Insider Transactions at Revolution Medicines
In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the transaction, the insider now owns 300,170 shares in the company, valued at $13,486,638.10. The trade was a 3.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Barbara Weber sold 5,200 shares of the firm's 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 sale, the director now owns 13,065 shares of the company's stock, valued at $627,381.30. This represents a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,866 shares of company stock valued at $6,355,624 over the last quarter. Company insiders own 8.00% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on RVMD. JPMorgan Chase & Co. upped their target price on Revolution Medicines from $54.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Piper Sandler upped their price objective on Revolution Medicines from $57.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their price objective on Revolution Medicines from $61.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. HC Wainwright upped their target price on shares of Revolution Medicines from $62.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Oppenheimer raised their price target on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $61.00.
Check Out Our Latest Stock Analysis on RVMD
About Revolution Medicines
(
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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