Revolution Medicines, Inc. (NASDAQ:RVMD) is Acuta Capital Partners LLC’s 9th Largest Position

Acuta Capital Partners LLC reduced its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 18.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,000 shares of the company’s stock after selling 25,000 shares during the period. Revolution Medicines makes up about 4.0% of Acuta Capital Partners LLC’s investment portfolio, making the stock its 9th biggest position. Acuta Capital Partners LLC’s holdings in Revolution Medicines were worth $4,898,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RVMD. GAMMA Investing LLC lifted its holdings in Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Revolution Medicines during the 3rd quarter valued at about $93,000. Nisa Investment Advisors LLC lifted its stake in shares of Revolution Medicines by 10.5% in 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. KBC Group NV boosted its holdings in shares of Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of Revolution Medicines by 7.4% in the second quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after buying an additional 365 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

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 stock was 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 owns 300,170 shares in the company, valued at $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 is available through this link. Also, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 13,065 shares in the company, valued at $627,381.30. This trade represents a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by insiders.

Revolution Medicines Price Performance

Shares of RVMD opened at $58.58 on Thursday. Revolution Medicines, Inc. has a 1 year low of $21.18 and a 1 year high of $62.40. The company has a 50 day simple moving average of $51.39 and a two-hundred day simple moving average of $45.01. The firm has a market cap of $9.85 billion, a P/E ratio of -16.32 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the prior year, the firm earned ($0.99) EPS. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on RVMD. HC Wainwright increased 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. Piper Sandler raised their target price on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. 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. Oppenheimer upped their price target on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, Needham & Company LLC lifted their price objective on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Revolution Medicines has an average rating of “Buy” and an average price target of $61.00.

Revolution Medicines Profile

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.