Susquehanna Fundamental Investments LLC Purchases New Shares in Revolution Medicines, Inc. (NASDAQ:RVMD)

Susquehanna Fundamental Investments LLC acquired a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 206,513 shares of the company’s stock, valued at approximately $6,656,000.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Revolution Medicines by 40.8% during the fourth quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock valued at $426,818,000 after acquiring an additional 4,309,611 shares in the last quarter. Vanguard Group Inc. raised its holdings in Revolution Medicines by 51.8% in the fourth quarter. Vanguard Group Inc. now owns 14,634,391 shares of the company’s stock worth $419,714,000 after buying an additional 4,990,800 shares during the last quarter. BVF Inc. IL lifted its stake in shares of Revolution Medicines by 50.2% in the fourth quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock worth $171,541,000 after buying an additional 2,000,000 shares in the last quarter. Bellevue Group AG grew its holdings in shares of Revolution Medicines by 7.8% during the fourth quarter. Bellevue Group AG now owns 5,091,000 shares of the company’s stock valued at $146,010,000 after buying an additional 369,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Revolution Medicines by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,795,421 shares of the company’s stock valued at $51,496,000 after acquiring an additional 133,558 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RVMD shares. Jefferies Financial Group started coverage on Revolution Medicines in a research report on Monday, July 8th. They issued a “buy” rating and a $63.00 price objective on the stock. Raymond James raised Revolution Medicines from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $36.00 to $48.00 in a research report on Wednesday, April 10th. Wedbush boosted their target price on Revolution Medicines from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 price target on shares of Revolution Medicines in a report on Thursday, May 9th. Finally, HC Wainwright reissued a “buy” rating and set a $44.00 price objective on shares of Revolution Medicines in a report on Monday, May 13th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $45.58.

Insider Activity at Revolution Medicines

In other news, CFO Jack Anders sold 10,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 101,959 shares of the company’s stock, valued at $4,081,418.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Revolution Medicines news, Director Sushil Patel sold 2,155 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $44.00, for a total transaction of $94,820.00. Following the completion of the sale, the director now directly owns 19,948 shares of the company’s stock, valued at approximately $877,712. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the completion of the transaction, the chief financial officer now directly owns 101,959 shares in the company, valued at approximately $4,081,418.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,754 shares of company stock worth $677,811. 8.00% of the stock is owned by company insiders.

Revolution Medicines Stock Performance

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

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