Amalgamated Bank Raises Position in Revolution Medicines, Inc. $RVMD

Amalgamated Bank boosted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 49.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,780 shares of the company’s stock after purchasing an additional 2,910 shares during the period. Amalgamated Bank’s holdings in Revolution Medicines were worth $323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in Revolution Medicines by 8.9% during the first quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company’s stock valued at $416,821,000 after acquiring an additional 966,230 shares in the last quarter. Nextech Invest Ltd. lifted its stake in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. BVF Inc. IL boosted its holdings in Revolution Medicines by 19.2% in the 1st quarter. BVF Inc. IL now owns 4,982,384 shares of the company’s stock valued at $176,177,000 after purchasing an additional 801,205 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in Revolution Medicines in the 1st quarter valued at $59,173,000. Finally, Westfield Capital Management Co. LP grew its position in shares of Revolution Medicines by 18,248.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,064,046 shares of the company’s stock valued at $37,625,000 after purchasing an additional 1,058,247 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Trading Down 0.6%

NASDAQ RVMD opened at $61.01 on Friday. The firm has a market cap of $11.79 billion, a PE ratio of -11.80 and a beta of 1.25. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $63.15. The stock has a 50-day moving average of $48.63 and a 200-day moving average of $42.02. The company has a current ratio of 8.05, a quick ratio of 11.79 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same period last year, the firm earned ($0.94) earnings per share. As a group, sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on RVMD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a report on Wednesday, October 8th. Truist Financial assumed coverage on Revolution Medicines in a research report on Friday, September 5th. They set a “buy” rating and a $99.00 target price for the company. HC Wainwright raised their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC boosted their price objective on Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus price target of $78.71.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 13,411 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $614,492.02. Following the completion of the sale, the insider directly owned 452,309 shares in the company, valued at $20,724,798.38. This represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Margaret A. Horn sold 4,775 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $218,790.50. Following the sale, the chief operating officer directly owned 145,900 shares of the company’s stock, valued at $6,685,138. The trade was a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 188,033 shares of company stock valued at $8,456,208 over the last quarter. Company insiders own 8.20% of the company’s stock.

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.