Revolution Medicines, Inc. (NASDAQ:RVMD) Stock Position Raised by Amalgamated Bank

Amalgamated Bank boosted its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 18.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,495 shares of the company’s stock after purchasing an additional 2,908 shares during the period. Amalgamated Bank’s holdings in Revolution Medicines were worth $530,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of RVMD. Fred Alger Management LLC acquired a new position in Revolution Medicines during the third quarter valued at $126,000. Federated Hermes Inc. acquired a new stake in shares of Revolution Medicines during the third quarter worth approximately $126,000. Strs Ohio grew its position in Revolution Medicines by 270.6% during the third quarter. Strs Ohio now owns 6,300 shares of the company’s stock valued at $174,000 after purchasing an additional 4,600 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in Revolution Medicines in the 4th quarter valued at approximately $206,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Revolution Medicines during the 4th quarter valued at $248,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In other news, General Counsel Jeff Cislini sold 1,252 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the transaction, the general counsel now owns 55,874 shares of the company’s stock, valued at $1,764,500.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Jeff Cislini sold 1,252 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,538.16. Following the sale, the general counsel now directly owns 55,874 shares in the company, valued at $1,764,500.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jack Anders sold 1,261 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $39,822.38. Following the completion of the transaction, the chief financial officer now directly owns 101,959 shares of the company’s stock, valued at $3,219,865.22. The disclosure for this sale can be found here. Insiders sold a total of 28,705 shares of company stock worth $1,031,049 in the last 90 days. 8.50% of the stock is owned by company insiders.

Revolution Medicines Trading Up 1.1 %

Shares of Revolution Medicines stock opened at $39.41 on Friday. The firm has a fifty day simple moving average of $34.83 and a 200-day simple moving average of $29.43. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of -10.51 and a beta of 1.46. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $40.21.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. The business’s revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.72) EPS. As a group, research analysts predict that Revolution Medicines, Inc. will post -3.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RVMD. HC Wainwright reaffirmed a “buy” rating and issued a $44.00 price target on shares of Revolution Medicines in a research note on Monday, May 13th. Raymond James raised Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $36.00 to $48.00 in a research note on Wednesday, April 10th. Piper Sandler began coverage on Revolution Medicines in a research note on Monday, March 11th. They issued an “overweight” rating and a $43.00 price target for the company. Oppenheimer increased their price objective on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, Wedbush lifted their target price on shares of Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Nine equities research 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, the stock presently has a consensus rating of “Buy” and a consensus target price of $43.20.

Revolution Medicines Company 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.