Point72 Asia Singapore Pte. Ltd. Sells 2,536 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Point72 Asia Singapore Pte. Ltd. reduced its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 42.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,430 shares of the company’s stock after selling 2,536 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Revolution Medicines were worth $156,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after acquiring an additional 222 shares during the last quarter. Values First Advisors Inc. bought a new stake in Revolution Medicines during the third quarter worth approximately $93,000. Nisa Investment Advisors LLC increased its stake in 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 during the last quarter. KBC Group NV increased its stake in 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 last quarter. Finally, Amalgamated Bank increased its stake in Revolution Medicines by 7.4% during the second quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after acquiring an additional 365 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HC Wainwright boosted their price objective on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Guggenheim boosted their target price on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays boosted their target price on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. boosted their target price on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and set a $68.00 target price on shares of Revolution Medicines in a research report on Tuesday. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and a consensus price target of $63.67.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $48.25 on Thursday. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of -13.44 and a beta of 1.40. The stock has a 50 day moving average price of $52.22 and a 200 day moving average price of $45.52. Revolution Medicines, Inc. has a 52-week low of $23.38 and a 52-week high of $62.40.

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

Insiders Place Their Bets

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 16,666 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the sale, the insider now owns 264,408 shares in the company, valued at $13,085,551.92. This represents a 5.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark A. Goldsmith sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total value of $449,300.00. Following the sale, the insider now owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,866 shares of company stock worth $6,355,624 over the last 90 days. Company insiders own 8.00% 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.