5,444 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,444 shares of the company’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. lifted its position in Revolution Medicines by 29.5% during the third quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock valued at $5,348,000 after buying an additional 26,871 shares during the period. State Street Corp lifted its position in Revolution Medicines by 4.1% during the third quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after buying an additional 208,516 shares during the period. 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 buying an additional 653,433 shares during the period. Allspring Global Investments Holdings LLC lifted its position in 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 valued at $1,750,000 after buying an additional 35,399 shares during the period. Finally, FMR LLC lifted its position in Revolution Medicines by 4.4% during the third quarter. FMR LLC now owns 5,875,893 shares of the company’s stock valued at $266,472,000 after buying an additional 250,037 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Piper Sandler raised their price objective on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Revolution Medicines in a research report on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $68.00 price target on shares of Revolution Medicines in a research report on Tuesday, December 3rd. Barclays lifted their price target on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Guggenheim lifted their price target on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $63.67.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $42.97 on Thursday. Revolution Medicines, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $62.40. The business has a 50-day simple moving average of $52.10 and a two-hundred day simple moving average of $46.03. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of -11.97 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the previous year, the firm earned ($0.99) EPS. As a group, research analysts predict that Revolution Medicines, Inc. will post -3.5 earnings per share for the current year.

Insider Activity

In other Revolution Medicines news, Director Thilo Schroeder purchased 1,304,347 shares of Revolution Medicines stock in a transaction dated Thursday, December 5th. The stock was purchased at an average price of $46.00 per share, with a total value of $59,999,962.00. Following the transaction, the director now directly owns 2,096,612 shares of the company’s stock, valued at $96,444,152. This trade represents a 164.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark A. Goldsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the transaction, the insider now owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,544 shares of company stock valued at $7,203,606 in the last quarter. 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.