Advantage Alpha Capital Partners LP Buys Shares of 10,164 Revolution Medicines, Inc. (NASDAQ:RVMD)

Advantage Alpha Capital Partners LP purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 3rd quarter, HoldingsChannel reports. The fund purchased 10,164 shares of the company’s stock, valued at approximately $461,000.

Several other hedge funds have also modified their holdings of RVMD. GAMMA Investing LLC lifted its position in Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Revolution Medicines during the 3rd quarter valued at $93,000. Nisa Investment Advisors LLC boosted its position 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 worth $131,000 after purchasing an additional 320 shares in the last quarter. KBC Group NV boosted its position in shares of Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after purchasing an additional 368 shares in the last quarter. Finally, Amalgamated Bank grew its stake in Revolution Medicines by 7.4% during the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after buying an additional 365 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $58.63 on Wednesday. The company has a fifty day moving average of $51.10 and a 200 day moving average of $44.92. Revolution Medicines, Inc. has a 1 year low of $20.98 and a 1 year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the previous year, the firm posted ($0.99) earnings per share. As a group, analysts predict that Revolution Medicines, Inc. will post -3.51 EPS for the current year.

Insider Transactions at Revolution Medicines

In related news, Director Barbara Weber sold 5,200 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the sale, the director now owns 13,065 shares in the company, valued at approximately $627,381.30. This trade represents a 28.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Michael Kelsey sold 16,666 shares of Revolution Medicines stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the transaction, the insider now directly owns 264,408 shares of the company’s stock, valued at $13,085,551.92. The trade was a 5.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock valued at $6,355,624 in the last 90 days. 8.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RVMD shares. Needham & Company LLC increased their price target on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. HC Wainwright lifted their target price on shares of Revolution Medicines from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wedbush restated an “outperform” rating and set a $59.00 price target on shares of Revolution Medicines in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Revolution Medicines from $54.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Guggenheim boosted their price objective on shares of Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, October 28th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $61.00.

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.