Price T Rowe Associates Inc. MD lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Get Rating) by 63.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,652,628 shares of the company’s stock after purchasing an additional 1,414,774 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Revolution Medicines were worth $72,030,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in RVMD. Simplex Trading LLC grew its holdings in shares of Revolution Medicines by 821.2% during the third quarter. Simplex Trading LLC now owns 1,391 shares of the company’s stock worth $27,000 after purchasing an additional 1,240 shares during the last quarter. High Net Worth Advisory Group LLC bought a new stake in shares of Revolution Medicines during the third quarter worth $39,000. Point72 Hong Kong Ltd acquired a new position in shares of Revolution Medicines during the second quarter valued at $39,000. Great West Life Assurance Co. Can acquired a new position in shares of Revolution Medicines during the third quarter valued at $50,000. Finally, Metropolitan Life Insurance Co NY lifted its stake in shares of Revolution Medicines by 14.8% during the third quarter. Metropolitan Life Insurance Co NY now owns 4,481 shares of the company’s stock valued at $88,000 after acquiring an additional 576 shares during the period.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on RVMD. JPMorgan Chase & Co. raised Revolution Medicines from a “neutral” rating to an “overweight” rating and upped their price target for the company from $32.00 to $38.00 in a research note on Tuesday, February 28th. HC Wainwright upped their price target on Revolution Medicines from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, December 8th. The Goldman Sachs Group upped their price target on Revolution Medicines from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, March 1st. Guggenheim reaffirmed a “buy” rating and set a $38.00 price target on shares of Revolution Medicines in a research note on Tuesday, February 28th. Finally, Oppenheimer upped their price target on Revolution Medicines from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, February 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.
Revolution Medicines Trading Up 8.8 %
Revolution Medicines (NASDAQ:RVMD – Get Rating) last released its earnings results on Monday, February 27th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.21. The firm had revenue of $15.33 million for the quarter, compared to analyst estimates of $6.75 million. Revolution Medicines had a negative return on equity of 41.17% and a negative net margin of 702.95%. Sell-side analysts predict that Revolution Medicines, Inc. will post -3.71 earnings per share for the current year.
Insider Transactions at Revolution Medicines
In other Revolution Medicines news, Director Thilo Schroeder purchased 100,000 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were bought at an average price of $20.46 per share, with a total value of $2,046,000.00. Following the completion of the transaction, the director now directly owns 1,553,134 shares in the company, valued at approximately $31,777,121.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.80% of the stock is currently owned by insiders.
Revolution Medicines Company Profile
Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.
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