HighVista Strategies LLC Raises Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

HighVista Strategies LLC increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 38.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,562 shares of the company’s stock after buying an additional 15,479 shares during the period. HighVista Strategies LLC’s holdings in Revolution Medicines were worth $2,520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RVMD. GAMMA Investing LLC increased its position in shares of Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after acquiring an additional 222 shares during the period. Nisa Investment Advisors LLC increased its holdings in Revolution Medicines by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after purchasing an additional 320 shares during the period. Captrust Financial Advisors raised its position in Revolution Medicines by 4.1% during the 3rd quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after purchasing an additional 337 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Revolution Medicines by 7.4% in the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after buying an additional 365 shares during the period. Finally, KBC Group NV grew its position in shares of Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RVMD shares. Guggenheim lifted their price objective on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, October 28th. HC Wainwright upped their price target on shares of Revolution Medicines from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC lifted their price objective on shares of Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler boosted their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $61.92.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the completion of the transaction, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Margaret A. Horn sold 50,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the completion of the sale, the chief operating officer now directly owns 132,320 shares in the company, valued at $6,660,988.80. This trade represents a 27.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,866 shares of company stock worth $6,355,624. Company insiders own 8.00% of the company’s stock.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $51.80 on Tuesday. Revolution Medicines, Inc. has a fifty-two week low of $23.38 and a fifty-two week high of $62.40. The business has a 50-day simple moving average of $51.89 and a two-hundred day simple moving average of $45.35.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the prior year, the business posted ($0.99) EPS. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -3.51 earnings per share for the current fiscal year.

About Revolution Medicines

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.