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

GAMMA Investing LLC lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 3,501.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,287 shares of the company's stock after buying an additional 20,696 shares during the period. GAMMA Investing LLC's holdings in Revolution Medicines were worth $753,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc purchased a new position in shares of Revolution Medicines in the fourth quarter worth $34,000. Sterling Capital Management LLC increased its holdings in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after buying an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC raised its position in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after buying an additional 1,613 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Revolution Medicines during the 4th quarter valued at about $104,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at about $154,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Performance

RVMD traded up $0.79 during trading on Wednesday, reaching $39.93. 3,021,785 shares of the company traded hands, compared to its average volume of 1,542,153. The company has a market cap of $7.44 billion, a P/E ratio of -9.98 and a beta of 1.10. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $62.40. The firm has a fifty day simple moving average of $39.10 and a 200 day simple moving average of $40.45.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter in the previous year, the firm posted ($0.70) earnings per share. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Oppenheimer boosted their price objective 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. Guggenheim reduced their target price on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Needham & Company LLC reiterated a "buy" rating and set a $57.00 price target on shares of Revolution Medicines in a research note on Thursday, May 8th. Stifel Nicolaus reduced their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, HC Wainwright reissued a "buy" rating and issued a $72.00 target price (down from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $67.08.

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.