Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 12,033 Revolution Medicines, Inc. (NASDAQ:RVMD)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMDGet Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,033 shares of the company’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nisa Investment Advisors LLC grew its stake in shares of Revolution Medicines by 53.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,150 shares of the company’s stock valued at $42,000 after purchasing an additional 750 shares during the last quarter. Ensign Peak Advisors Inc grew its position in Revolution Medicines by 7.5% during the first quarter. Ensign Peak Advisors Inc now owns 11,990 shares of the company’s stock valued at $306,000 after acquiring an additional 840 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Revolution Medicines by 10.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 23,800 shares of the company’s stock worth $609,000 after purchasing an additional 2,200 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Revolution Medicines by 48.0% in the first quarter. SG Americas Securities LLC now owns 6,942 shares of the company’s stock worth $177,000 after acquiring an additional 2,251 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in Revolution Medicines during the second quarter valued at approximately $54,000. Institutional investors and hedge funds own 86.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RVMD shares. Oppenheimer began coverage on Revolution Medicines in a report on Thursday, October 20th. They issued an “outperform” rating and a $30.00 price objective for the company. HC Wainwright dropped their price target on shares of Revolution Medicines from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, November 8th. Finally, SVB Leerink dropped their price target on shares of Revolution Medicines from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Revolution Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Insider Activity

In other news, COO Margaret A. Horn sold 17,767 shares of Revolution Medicines stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $20.41, for a total value of $362,624.47. Following the completion of the transaction, the chief operating officer now owns 17,767 shares in the company, valued at $362,624.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Margaret A. Horn sold 17,767 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $20.41, for a total value of $362,624.47. Following the completion of the sale, the chief operating officer now owns 17,767 shares of the company’s stock, valued at $362,624.47. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Margaret A. Horn sold 17,768 shares of the firm’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $20.15, for a total transaction of $358,025.20. Following the completion of the sale, the insider now directly owns 35,534 shares of the company’s stock, valued at approximately $716,010.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,719 shares of company stock worth $743,193. Insiders own 18.80% of the company’s stock.

Revolution Medicines Stock Up 3.1 %

Shares of RVMD opened at $22.17 on Friday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -6.97 and a beta of 1.52. Revolution Medicines, Inc. has a 12 month low of $14.08 and a 12 month high of $33.24. The company has a 50-day moving average price of $19.67 and a two-hundred day moving average price of $20.04.

Revolution Medicines (NASDAQ:RVMDGet Rating) last posted its earnings results on Monday, November 7th. The company reported ($0.87) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.87). Revolution Medicines had a negative net margin of 829.80% and a negative return on equity of 41.97%. The company had revenue of $3.36 million during the quarter, compared to analysts’ expectations of $8.57 million. Equities research analysts expect that Revolution Medicines, Inc. will post -3.31 EPS for the current fiscal year.

Revolution Medicines Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Revolution Medicines (NASDAQ:RVMD)

Receive News & Ratings for Revolution Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revolution Medicines and related companies with MarketBeat.com's FREE daily email newsletter.