Sio Capital Management LLC purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 125,957 shares of the company’s stock, valued at approximately $2,728,000. Revolution Medicines accounts for 1.3% of Sio Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Sio Capital Management LLC owned approximately 0.12% of Revolution Medicines as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of RVMD. Belpointe Asset Management LLC bought a new position in shares of Revolution Medicines in the fourth quarter worth $26,000. Point72 Hong Kong Ltd bought a new position in Revolution Medicines in the second quarter valued at about $39,000. Allspring Global Investments Holdings LLC grew its position in Revolution Medicines by 77.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,132 shares of the company’s stock valued at $68,000 after acquiring an additional 1,366 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Revolution Medicines by 76.5% in the first quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the company’s stock valued at $74,000 after acquiring an additional 1,481 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in Revolution Medicines by 16.3% in the first quarter. Ameritas Investment Partners Inc. now owns 6,788 shares of the company’s stock valued at $147,000 after acquiring an additional 950 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Revolution Medicines in a research report on Wednesday, August 2nd. Oppenheimer lifted their target price on Revolution Medicines from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Needham & Company LLC decreased their target price on Revolution Medicines from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.67.
Insider Activity at Revolution Medicines
In related news, insider Stephen Michael Kelsey sold 2,102 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $24.89, for a total value of $52,318.78. Following the sale, the insider now directly owns 325,780 shares in the company, valued at $8,108,664.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Jack Anders sold 1,249 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $24.89, for a total value of $31,087.61. Following the sale, the chief financial officer now directly owns 55,094 shares in the company, valued at $1,371,289.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Michael Kelsey sold 2,102 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $24.89, for a total value of $52,318.78. Following the transaction, the insider now owns 325,780 shares in the company, valued at $8,108,664.20. The disclosure for this sale can be found here. Insiders have sold 102,756 shares of company stock worth $3,411,765 over the last ninety days. Insiders own 8.50% of the company’s stock.
Revolution Medicines Trading Up 0.1 %
NASDAQ:RVMD opened at $32.12 on Friday. The stock has a market cap of $3.51 billion, a P/E ratio of -10.23 and a beta of 1.36. The stock’s 50-day moving average is $29.44 and its 200-day moving average is $25.90. Revolution Medicines, Inc. has a 1-year low of $17.03 and a 1-year high of $35.50.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.10). The firm had revenue of $3.82 million for the quarter, compared to the consensus estimate of $1.56 million. Revolution Medicines had a negative return on equity of 36.46% and a negative net margin of 1,003.36%. The business’s revenue for the quarter was down 58.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.82) earnings per share. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current year.
About Revolution Medicines
Revolution Medicines, Inc, a clinical-stage precision oncology company, develops therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic tumors.
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