Walleye Capital LLC Acquires 99,589 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Walleye Capital LLC lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 44.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 323,732 shares of the company’s stock after acquiring an additional 99,589 shares during the period. Walleye Capital LLC owned approximately 0.19% of Revolution Medicines worth $14,681,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in Revolution Medicines by 1,109.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,589 shares of the company’s stock valued at $1,750,000 after purchasing an additional 35,399 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Revolution Medicines by 58.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock valued at $79,957,000 after buying an additional 653,433 shares during the last quarter. Raymond James & Associates grew its holdings in Revolution Medicines by 156.2% during the third quarter. Raymond James & Associates now owns 190,505 shares of the company’s stock worth $8,639,000 after buying an additional 116,135 shares in the last quarter. Rhumbline Advisers raised its position in Revolution Medicines by 9.2% in the 2nd quarter. Rhumbline Advisers now owns 228,567 shares of the company’s stock valued at $8,871,000 after buying an additional 19,257 shares during the last quarter. Finally, Sofinnova Investments Inc. bought a new position in Revolution Medicines during the 2nd quarter valued at $17,662,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Trading Down 1.2 %

Shares of Revolution Medicines stock opened at $57.85 on Friday. The business’s fifty day simple moving average is $51.89 and its 200 day simple moving average is $45.25. Revolution Medicines, Inc. has a 12 month low of $22.77 and a 12 month high of $62.40. The firm has a market capitalization of $9.73 billion, a P/E ratio of -16.11 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period last year, the firm earned ($0.99) earnings per share. Analysts predict that Revolution Medicines, Inc. will post -3.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on RVMD. Needham & Company LLC upped their target price on shares of Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Guggenheim upped their price objective on shares of Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. increased their price objective on shares of Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer boosted their target price on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Piper Sandler increased their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $61.00.

Insiders Place Their Bets

In other news, insider Stephen Michael Kelsey sold 16,666 shares of Revolution Medicines stock in a transaction on Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the completion of the transaction, the insider now directly owns 264,408 shares in the company, valued at approximately $13,085,551.92. The trade was a 5.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 50,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.34, for a total value of $2,517,000.00. Following 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 position. 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 ninety days. 8.00% of the stock is currently owned by insiders.

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.