Seven Eight Capital LP Acquires 1,108 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Seven Eight Capital LP grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,602 shares of the company’s stock after acquiring an additional 1,108 shares during the quarter. Seven Eight Capital LP’s holdings in Revolution Medicines were worth $2,701,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Headlands Technologies LLC raised its position in Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Revolution Medicines during the 1st quarter valued at about $104,000. EntryPoint Capital LLC acquired a new position in Revolution Medicines in the first quarter valued at approximately $107,000. Nisa Investment Advisors LLC boosted its holdings in shares of 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 buying an additional 320 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Revolution Medicines during the 1st quarter worth approximately $196,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 25,000 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $45.05, for a total transaction of $1,126,250.00. Following the completion of the sale, the insider now directly owns 311,885 shares in the company, valued at approximately $14,050,419.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Mark A. Goldsmith sold 25,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $45.05, for a total transaction of $1,126,250.00. Following the completion of the sale, the insider now owns 311,885 shares of the company’s stock, valued at $14,050,419.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Jeff Cislini sold 2,000 shares of Revolution Medicines stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the completion of the transaction, 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. Over the last quarter, insiders have sold 58,421 shares of company stock worth $2,637,077. Company insiders own 8.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Oppenheimer upped their price target on Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Barclays raised their price objective on Revolution Medicines from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Jefferies Financial Group started coverage on Revolution Medicines in a report on Monday, July 8th. They set a “buy” rating and a $63.00 price objective for the company. Finally, Bank of America boosted their price objective on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and an average price target of $52.92.

Revolution Medicines Trading Down 1.7 %

Shares of NASDAQ RVMD opened at $43.77 on Wednesday. The stock’s 50-day moving average is $43.89 and its 200 day moving average is $38.92. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of -11.67 and a beta of 1.43. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $48.61.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.81 million. During the same period last year, the firm posted ($0.92) EPS. The business’s revenue was down 73.8% on a year-over-year basis. On average, analysts forecast that Revolution Medicines, Inc. will post -3.47 EPS for the current fiscal year.

Revolution Medicines Company 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.