Acuta Capital Partners LLC Has $4.90 Million Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Acuta Capital Partners LLC trimmed its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 18.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,000 shares of the company’s stock after selling 25,000 shares during the quarter. Revolution Medicines makes up 4.0% of Acuta Capital Partners LLC’s investment portfolio, making the stock its 9th largest position. Acuta Capital Partners LLC owned approximately 0.06% of Revolution Medicines worth $4,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after purchasing an additional 222 shares during the last quarter. Nisa Investment Advisors LLC raised its stake 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 valued at $131,000 after acquiring an additional 320 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of 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 purchasing an additional 365 shares during the period. KBC Group NV boosted 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 purchasing an additional 368 shares during the period. Finally, Clear Harbor Asset Management LLC grew its stake in shares of Revolution Medicines by 10.2% in the second quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock worth $436,000 after purchasing an additional 1,036 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Trading Down 0.1 %

Shares of NASDAQ:RVMD opened at $58.58 on Thursday. Revolution Medicines, Inc. has a 12-month low of $21.18 and a 12-month high of $62.40. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of -16.32 and a beta of 1.40. The stock has a fifty day simple moving average of $51.39 and a two-hundred day simple moving average of $45.01.

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

Analyst Ratings Changes

RVMD has been the subject of a number of recent analyst reports. Guggenheim upped their price target on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Wedbush reissued an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Barclays raised their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Piper Sandler boosted their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective 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. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $61.00.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the transaction, the insider now directly owns 300,170 shares in the company, valued at $13,486,638.10. The trade was a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the completion of the transaction, the director now directly owns 13,065 shares in the company, valued at $627,381.30. This trade represents a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,866 shares of company stock valued at $6,355,624. Insiders own 8.00% of the company’s stock.

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.