206,513 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Bought by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 206,513 shares of the company’s stock, valued at approximately $6,656,000. Susquehanna Fundamental Investments LLC owned about 0.12% of Revolution Medicines at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas boosted its stake in Revolution Medicines by 10.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,375 shares of the company’s stock valued at $670,000 after acquiring an additional 2,238 shares in the last quarter. Manchester Capital Management LLC acquired a new position in Revolution Medicines during the fourth quarter worth approximately $80,000. Amalgamated Bank lifted its stake in Revolution Medicines by 18.7% in the fourth quarter. Amalgamated Bank now owns 18,495 shares of the company’s stock valued at $530,000 after buying an additional 2,908 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Revolution Medicines by 18.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,818 shares of the company’s stock valued at $568,000 after acquiring an additional 3,133 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Revolution Medicines during the first quarter worth approximately $104,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Stock Up 4.1 %

Shares of RVMD traded up $1.79 during mid-day trading on Friday, hitting $45.14. The company had a trading volume of 3,062,082 shares, compared to its average volume of 1,530,875. The stock has a market cap of $7.45 billion, a PE ratio of -12.04 and a beta of 1.44. The business’s 50-day simple moving average is $39.01 and its 200-day simple moving average is $33.93. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $45.26.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. The business’s revenue was down 100.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.72) EPS. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -3.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RVMD. Wedbush lifted their target price on Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Oppenheimer lifted their target price on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Raymond James raised shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $36.00 to $48.00 in a report on Wednesday, April 10th. Jefferies Financial Group started coverage on Revolution Medicines in a report on Monday, July 8th. They issued a “buy” rating and a $63.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $44.00 target price on shares of Revolution Medicines in a research note on Monday, May 13th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $45.58.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $40.03, for a total value of $400,300.00. Following the transaction, the chief financial officer now owns 101,959 shares in the company, valued at approximately $4,081,418.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $40.03, for a total transaction of $400,300.00. Following the completion of the sale, the chief financial officer now owns 101,959 shares of the company’s stock, valued at $4,081,418.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jeff Cislini sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total transaction of $76,940.00. Following the completion of the sale, the general counsel now directly owns 49,487 shares in the company, valued at $1,903,764.89. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,754 shares of company stock worth $677,811. 8.00% of the stock is currently owned by company insiders.

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.