GAMMA Investing LLC Purchases 20,696 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

GAMMA Investing LLC boosted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 3,501.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,287 shares of the company’s stock after acquiring an additional 20,696 shares during the period. GAMMA Investing LLC’s holdings in Revolution Medicines were worth $753,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Boxer Capital Management LLC purchased a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $187,184,000. Janus Henderson Group PLC boosted its position in shares of Revolution Medicines by 54.5% during the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company’s stock worth $414,777,000 after acquiring an additional 3,346,755 shares during the last quarter. Vanguard Group Inc. lifted its position in Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock valued at $747,799,000 after purchasing an additional 2,185,082 shares during the last quarter. Farallon Capital Management LLC lifted its position in Revolution Medicines by 17.1% during the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock valued at $579,498,000 after purchasing an additional 1,931,000 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at $76,197,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Down 1.6%

Revolution Medicines stock opened at $39.14 on Wednesday. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of -9.79 and a beta of 1.10. The company has a fifty day simple moving average of $39.10 and a 200-day simple moving average of $40.45.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter in the previous year, the business earned ($0.70) EPS. On average, research analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, May 8th. Stifel Nicolaus lowered their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 target price on shares of Revolution Medicines in a research note on Thursday, May 8th. Guggenheim reduced their price target on shares of Revolution Medicines from $87.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, Oppenheimer lifted their target price on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $67.08.

Revolution Medicines 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.