Wilmington Savings Fund Society FSB Invests $801,000 in Revolution Medicines, Inc. (NASDAQ:RVMD)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,667 shares of the company’s stock, valued at approximately $801,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after purchasing an additional 222 shares in the last quarter. Quarry LP purchased a new stake in Revolution Medicines during the third quarter valued at about $82,000. Values First Advisors Inc. bought a new position in shares of Revolution Medicines during the third quarter valued at about $93,000. Nisa Investment Advisors LLC lifted its stake in shares of Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after acquiring an additional 320 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the topic of a number of analyst reports. HC Wainwright lifted their price target on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Guggenheim increased their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reissued an “outperform” rating and issued a $70.00 target price on shares of Revolution Medicines in a research note on Monday, December 2nd. Finally, Piper Sandler upped their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $63.67.

Insider Activity at Revolution Medicines

In other news, Director Thilo Schroeder bought 1,304,347 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the completion of the acquisition, the director now owns 2,096,612 shares of the company’s stock, valued at approximately $96,444,152. This represents a 164.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total transaction of $449,300.00. Following the completion of the transaction, 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. Insiders sold a total of 127,866 shares of company stock valued at $6,355,624 in the last three months. Company insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $45.01 on Monday. The firm has a market capitalization of $7.57 billion, a P/E ratio of -12.54 and a beta of 1.40. The stock has a 50 day moving average price of $52.38 and a 200-day moving average price of $45.96. Revolution Medicines, Inc. has a 52-week low of $25.58 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter last year, the firm earned ($0.99) earnings per share. On average, equities analysts forecast that Revolution Medicines, Inc. will post -3.5 EPS for the current fiscal year.

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.