Strs Ohio bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,700 shares of the company’s stock, valued at approximately $45,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in shares of Revolution Medicines by 53.1% in the second quarter. Victory Capital Management Inc. now owns 69,511 shares of the company’s stock valued at $1,859,000 after acquiring an additional 24,101 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Revolution Medicines by 49.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,693 shares of the company’s stock valued at $126,000 after acquiring an additional 1,561 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Revolution Medicines in the second quarter valued at about $149,000. Duality Advisers LP purchased a new stake in Revolution Medicines during the first quarter worth about $1,583,000. Finally, Ameriprise Financial Inc. boosted its holdings in Revolution Medicines by 60.4% during the first quarter. Ameriprise Financial Inc. now owns 1,123,958 shares of the company’s stock worth $24,345,000 after buying an additional 423,035 shares in the last quarter.
Insider Activity
In other news, insider Mark A. Goldsmith sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $35.05, for a total value of $1,051,500.00. Following the completion of the transaction, the insider now owns 357,386 shares of the company’s stock, valued at $12,526,379.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Margaret A. Horn sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $33.95, for a total value of $848,750.00. Following the completion of the transaction, the chief operating officer now owns 96,960 shares of the company’s stock, valued at $3,291,792. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark A. Goldsmith sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $35.05, for a total transaction of $1,051,500.00. Following the transaction, the insider now directly owns 357,386 shares of the company’s stock, valued at approximately $12,526,379.30. The disclosure for this sale can be found here. Insiders sold a total of 135,882 shares of company stock valued at $4,547,328 over the last 90 days. Insiders own 8.50% of the company’s stock.
Revolution Medicines Price Performance
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.10). The firm had revenue of $3.82 million during the quarter, compared to analyst estimates of $1.56 million. Revolution Medicines had a negative net margin of 1,003.36% and a negative return on equity of 36.46%. The business’s quarterly revenue was down 58.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.82) EPS. On average, analysts forecast that Revolution Medicines, Inc. will post -3.52 EPS for the current fiscal year.
Analyst Ratings Changes
RVMD has been the topic of a number of research analyst reports. Oppenheimer boosted their price objective on shares of Revolution Medicines from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Stifel Nicolaus boosted their price objective on shares of Revolution Medicines from $37.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. HC Wainwright reissued a “buy” rating and set a $32.00 price objective on shares of Revolution Medicines in a report on Thursday, October 26th. Finally, Needham & Company LLC boosted their price objective on shares of Revolution Medicines from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Revolution Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.29.
Read Our Latest Report on RVMD
Revolution Medicines Company Profile
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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