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

Walleye Capital LLC boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 44.4% during the third quarter, Holdings Channel.com reports. The fund owned 323,732 shares of the company’s stock after buying an additional 99,589 shares during the quarter. Walleye Capital LLC’s holdings in Revolution Medicines were worth $14,681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Revolution Medicines by 1,109.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 38,589 shares of the company’s stock worth $1,750,000 after purchasing an additional 35,399 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 purchasing an additional 653,433 shares during the last quarter. Raymond James & Associates lifted its position in Revolution Medicines by 156.2% during the third quarter. Raymond James & Associates now owns 190,505 shares of the company’s stock valued at $8,639,000 after purchasing an additional 116,135 shares during the last quarter. Rhumbline Advisers lifted its position in Revolution Medicines by 9.2% during the second quarter. Rhumbline Advisers now owns 228,567 shares of the company’s stock valued at $8,871,000 after purchasing an additional 19,257 shares during the last quarter. Finally, Sofinnova Investments Inc. bought a new stake in Revolution Medicines during the second quarter valued at approximately $17,662,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Down 1.2 %

NASDAQ:RVMD opened at $57.85 on Friday. The company has a fifty day moving average of $51.89 and a 200 day moving average of $45.25. Revolution Medicines, Inc. has a 52 week low of $22.77 and a 52 week 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 posted its quarterly 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 quarter in the prior year, the company posted ($0.99) EPS. As a group, analysts anticipate that Revolution Medicines, Inc. will post -3.51 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Oppenheimer lifted their target price on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on shares of Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Wedbush reiterated an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. Finally, 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 report on Thursday, November 7th. Eleven investment 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, Revolution Medicines currently has a consensus rating of “Buy” and an average target price of $61.00.

Insider Buying and Selling at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 16,666 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $49.49, for a total value of $824,800.34. Following the sale, the insider now directly owns 264,408 shares of the company’s stock, valued at $13,085,551.92. This represents a 5.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.30, for a total transaction of $503,000.00. Following the completion of the transaction, the chief financial officer now owns 98,932 shares of the company’s stock, valued at approximately $4,976,279.60. The trade was a 9.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,866 shares of company stock valued at $6,355,624. 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.