Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 58.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,763,117 shares of the company’s stock after acquiring an additional 653,433 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Revolution Medicines were worth $79,957,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings 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 purchasing an additional 222 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Revolution Medicines during the 3rd quarter worth $93,000. Nisa Investment Advisors LLC boosted its position in shares of Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after buying an additional 320 shares in the last quarter. KBC Group NV grew its stake in Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Revolution Medicines by 7.4% during 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. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insiders Place Their Bets

In other news, COO Margaret A. Horn sold 50,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.34, for a total value of $2,517,000.00. Following the completion of the sale, the chief operating officer now owns 132,320 shares in the company, valued at approximately $6,660,988.80. This trade represents a 27.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 300,170 shares in the company, valued at $13,486,638.10. This trade represents a 3.22 % decrease in their ownership of the stock. 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 ninety days. 8.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RVMD shares. Needham & Company LLC increased their price target on shares of Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Oppenheimer upped their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Wedbush restated an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, HC Wainwright raised their target price on shares of Revolution Medicines from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $61.00.

Revolution Medicines Trading Down 0.1 %

Shares of Revolution Medicines stock opened at $58.58 on Thursday. The business’s fifty day moving average price is $51.39 and its 200 day moving average price is $45.01. Revolution Medicines, Inc. has a twelve month low of $21.18 and a twelve month high of $62.40. The stock has a market capitalization of $9.85 billion, a P/E ratio of -16.32 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its 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 period last year, the firm posted ($0.99) earnings per share. As a group, sell-side analysts predict that Revolution Medicines, Inc. will post -3.51 EPS for the current 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.