Eventide Asset Management LLC Has $23.72 Million Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Eventide Asset Management LLC trimmed its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 19.6% in the third quarter, Holdings Channel reports. The fund owned 523,051 shares of the company’s stock after selling 127,775 shares during the period. Eventide Asset Management LLC’s holdings in Revolution Medicines were worth $23,720,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position 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 during the period. Values First Advisors Inc. acquired a new position in shares of Revolution Medicines in the third quarter valued at approximately $93,000. Nisa Investment Advisors LLC increased its position in shares of Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after acquiring an additional 320 shares in the last quarter. KBC Group NV raised its holdings in shares of Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after acquiring an additional 368 shares during the period. Finally, Amalgamated Bank lifted its position in Revolution Medicines by 7.4% in the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock valued at $205,000 after acquiring an additional 365 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the completion of the sale, the insider now owns 300,170 shares in the company, valued at $15,116,561.20. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 16,666 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the sale, the insider now owns 264,408 shares of the company’s stock, valued at approximately $13,085,551.92. This represents a 5.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,866 shares of company stock worth $6,355,624. Company insiders own 8.00% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer lifted their price target on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Guggenheim lifted their price target on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, October 28th. HC Wainwright lifted their price target on Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Barclays lifted their price target on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $61.00.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $58.58 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $62.40. The business has a 50-day moving average of $51.64 and a 200-day moving average of $45.11.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly 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 last year, the company posted ($0.99) earnings per share. Research analysts anticipate that Revolution Medicines, Inc. will post -3.51 EPS for the current fiscal year.

About Revolution Medicines

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.