Bryce Point Capital LLC Invests $808,000 in Revolution Medicines, Inc. (NASDAQ:RVMD)

Bryce Point Capital LLC acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,479 shares of the company’s stock, valued at approximately $808,000.

A number of other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in Revolution Medicines in the 3rd quarter valued at $801,000. State Street Corp increased its stake in Revolution Medicines by 4.1% in the third quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after purchasing an additional 208,516 shares during the last quarter. Barclays PLC increased its stake in Revolution Medicines by 187.1% in the third quarter. Barclays PLC now owns 294,664 shares of the company’s stock valued at $13,362,000 after purchasing an additional 192,021 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Revolution Medicines during the third quarter worth about $1,210,000. Finally, Geode Capital Management LLC boosted its stake in Revolution Medicines by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company’s stock worth $164,517,000 after buying an additional 291,369 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the transaction, the insider now directly owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares of the company’s stock, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock valued at $650,406 over the last 90 days. 8.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on RVMD. UBS Group increased their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. Stifel Nicolaus dropped their price objective on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday. Needham & Company LLC reduced their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, HC Wainwright upped their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $65.23.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $34.60 on Thursday. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of -9.64 and a beta of 1.46. Revolution Medicines, Inc. has a one year low of $29.55 and a one year high of $62.40. The stock has a 50-day simple moving average of $39.97 and a 200 day simple moving average of $45.42.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal 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.