Clear Harbor Asset Management LLC Acquires 1,036 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Clear Harbor Asset Management LLC lifted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,224 shares of the company’s stock after purchasing an additional 1,036 shares during the period. Clear Harbor Asset Management LLC’s holdings in Revolution Medicines were worth $436,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in Revolution Medicines by 17.5% during the 2nd quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock worth $416,000 after acquiring an additional 1,601 shares during the period. Farallon Capital Management LLC raised its position in shares of Revolution Medicines by 11.4% during the first quarter. Farallon Capital Management LLC now owns 7,507,872 shares of the company’s stock valued at $241,979,000 after buying an additional 771,018 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Revolution Medicines by 77.9% during the first quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock valued at $126,067,000 after buying an additional 1,712,639 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Revolution Medicines during the first quarter valued at approximately $338,000. Finally, Paloma Partners Management Co bought a new stake in shares of Revolution Medicines during the first quarter valued at approximately $372,000. Institutional investors own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

RVMD has been the subject of a number of recent research reports. Oppenheimer raised their target price on shares of Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Wedbush reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a research note on Monday, July 8th. They set a “buy” rating and a $63.00 price objective for the company. Bank of America lifted their price objective on shares of Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $56.00 price objective on shares of Revolution Medicines in a research note on Monday. Eleven 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 company presently has a consensus rating of “Buy” and a consensus target price of $52.92.

Insiders Place Their Bets

In other news, General Counsel Jeff Cislini sold 2,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the sale, the general counsel now owns 49,487 shares in the company, valued at $1,903,764.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Stephen Michael Kelsey sold 16,667 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $46.47, for a total value of $774,515.49. Following the sale, the insider now owns 269,073 shares in the company, valued at $12,503,822.31. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Jeff Cislini sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total value of $76,940.00. Following the completion of the sale, the general counsel now owns 49,487 shares in the company, valued at approximately $1,903,764.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,421 shares of company stock worth $2,637,077. 8.00% of the stock is owned by corporate insiders.

Revolution Medicines Stock Down 1.5 %

Shares of RVMD stock traded down $0.64 on Friday, hitting $42.88. The stock had a trading volume of 384,570 shares, compared to its average volume of 1,405,686. The business has a 50 day moving average price of $41.93 and a 200 day moving average price of $36.64. The company has a market cap of $7.16 billion, a PE ratio of -11.61 and a beta of 1.44. Revolution Medicines, Inc. has a one year low of $15.44 and a one year high of $48.61.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.81 million. The business’s quarterly revenue was down 73.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.92) EPS. Equities research analysts expect that Revolution Medicines, Inc. will post -3.34 EPS for the current year.

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.