Wilmington Savings Fund Society FSB Purchases Shares of 17,667 Revolution Medicines, Inc. (NASDAQ:RVMD)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,667 shares of the company’s stock, valued at approximately $801,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in RVMD. Farallon Capital Management LLC boosted its holdings in Revolution Medicines by 30.0% during the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock worth $378,696,000 after acquiring an additional 2,249,820 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Revolution Medicines by 32.3% during the third quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock worth $278,280,000 after purchasing an additional 1,497,026 shares during the last quarter. Logos Global Management LP bought a new stake in Revolution Medicines in the 2nd quarter worth about $46,572,000. Hood River Capital Management LLC purchased a new stake in Revolution Medicines in the 2nd quarter valued at about $35,472,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Revolution Medicines by 58.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after buying an additional 653,433 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RVMD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a report on Tuesday, December 3rd. Oppenheimer raised their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. HC Wainwright boosted their price target on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler boosted their target price on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $63.67.

Insider Activity

In related news, Director Thilo Schroeder acquired 1,304,347 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were bought at an average cost of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the transaction, the director now owns 2,096,612 shares in the company, valued at approximately $96,444,152. This trade represents a 164.64 % increase in their ownership of the stock. The acquisition 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 Revolution Medicines stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the sale, the insider now owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,866 shares of company stock worth $6,355,624. 8.00% of the stock is owned by company insiders.

Revolution Medicines Price Performance

Shares of RVMD stock opened at $45.01 on Monday. Revolution Medicines, Inc. has a 1 year low of $25.58 and a 1 year high of $62.40. The company’s fifty day simple moving average is $52.38 and its two-hundred day simple moving average is $45.96. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of -12.54 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period last year, the firm earned ($0.99) earnings per share. Equities research analysts anticipate that Revolution Medicines, Inc. will post -3.5 EPS for the current year.

About Revolution Medicines

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.