Dynamic Technology Lab Private Ltd Acquires 7,574 Shares of Revolution Medicines, Inc. $RVMD

Dynamic Technology Lab Private Ltd increased its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 53.4% during the 2nd quarter, Holdings Channel reports. The firm owned 21,762 shares of the company’s stock after acquiring an additional 7,574 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Revolution Medicines were worth $801,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RVMD. S&CO Inc. lifted its position in Revolution Medicines by 54.5% during the second quarter. S&CO Inc. now owns 14,171 shares of the company’s stock valued at $521,000 after acquiring an additional 5,000 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Revolution Medicines during the 2nd quarter valued at about $3,639,000. Harbor Capital Advisors Inc. raised its stake in Revolution Medicines by 64.7% in the second quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock valued at $2,146,000 after buying an additional 22,906 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Revolution Medicines by 6.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company’s stock worth $3,870,000 after acquiring an additional 6,877 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Revolution Medicines in the second quarter worth about $1,678,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $60.31, for a total transaction of $1,809,300.00. Following the sale, the insider owned 347,863 shares of the company’s stock, valued at $20,979,617.53. This trade represents a 7.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jack Anders sold 5,238 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total transaction of $210,410.46. Following the transaction, the chief financial officer directly owned 113,314 shares of the company’s stock, valued at approximately $4,551,823.38. This trade represents a 4.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 258,033 shares of company stock valued at $12,974,508 in the last ninety days. Insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. National Bankshares set a $80.00 target price on shares of Revolution Medicines in a research report on Friday, October 17th. Needham & Company LLC upped their price target on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada started coverage on shares of Revolution Medicines in a report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price target for the company. Finally, Mizuho began coverage on shares of Revolution Medicines in a research note on Tuesday, October 21st. They set an “outperform” rating and a $90.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Revolution Medicines currently has an average rating of “Buy” and a consensus price target of $78.50.

Revolution Medicines Trading Up 1.4%

NASDAQ RVMD opened at $70.87 on Friday. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $72.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. The company has a market capitalization of $13.70 billion, a PE ratio of -13.71 and a beta of 1.25. The company has a fifty day moving average of $53.90 and a 200 day moving average of $43.97.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same period in the prior year, the business earned ($0.94) earnings per share. Research analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

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.