163,500 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Purchased by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 163,500 shares of the company’s stock, valued at approximately $7,415,000. Revolution Medicines accounts for approximately 4.0% of Ally Bridge Group NY LLC’s portfolio, making the stock its 10th biggest holding. Ally Bridge Group NY LLC owned 0.10% of Revolution Medicines at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares in the last quarter. Values First Advisors Inc. purchased a new position in Revolution Medicines in the third quarter valued at about $93,000. Nisa Investment Advisors LLC increased its position in Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after purchasing an additional 320 shares during the last quarter. KBC Group NV raised its stake in shares of Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after purchasing an additional 368 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Revolution Medicines by 7.4% during the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock valued at $205,000 after buying an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insiders Place Their Bets

In related news, insider Stephen Michael Kelsey sold 16,666 shares of Revolution Medicines stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $49.49, for a total transaction of $824,800.34. Following the sale, the insider now directly owns 264,408 shares of the company’s stock, valued at $13,085,551.92. This trade represents a 5.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 10,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $13,486,638.10. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock worth $6,355,624 in the last ninety days. Insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Down 0.1 %

RVMD opened at $58.58 on Thursday. The stock’s 50 day moving average price is $51.39 and its two-hundred day moving average price is $45.01. The firm has a market capitalization of $9.85 billion, a P/E ratio of -16.32 and a beta of 1.40. Revolution Medicines, Inc. has a 12-month low of $21.18 and a 12-month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period last year, the business posted ($0.99) EPS. As a group, analysts anticipate that Revolution Medicines, Inc. will post -3.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Needham & Company LLC increased their price objective on Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Guggenheim upped their price objective on shares of Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, October 28th. HC Wainwright raised their target price on Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Revolution Medicines in a research report on Thursday, August 8th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Revolution Medicines has an average rating of “Buy” and an average price target of $61.00.

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.