Alliancebernstein L.P. Has $2.62 Million Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Alliancebernstein L.P. grew its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,200 shares of the company’s stock after purchasing an additional 900 shares during the period. Alliancebernstein L.P. owned approximately 0.08% of Revolution Medicines worth $2,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in shares of Revolution Medicines during the fourth quarter valued at about $60,000. Arizona State Retirement System bought a new stake in shares of Revolution Medicines during the fourth quarter worth about $227,000. Handelsbanken Fonder AB bought a new stake in shares of Revolution Medicines during the fourth quarter worth about $317,000. Citigroup Inc. increased its position in shares of Revolution Medicines by 318.4% during the fourth quarter. Citigroup Inc. now owns 10,477 shares of the company’s stock worth $415,000 after acquiring an additional 7,973 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Revolution Medicines during the fourth quarter worth about $495,000. Hedge funds and other institutional investors own 90.18% of the company’s stock.

RVMD has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Revolution Medicines in a research report on Tuesday, May 18th. They set a “buy” rating and a $49.00 target price for the company. SVB Leerink decreased their target price on shares of Revolution Medicines from $55.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, May 11th. Finally, Zacks Investment Research downgraded shares of Revolution Medicines from a “hold” rating to a “sell” rating in a research report on Friday, May 14th.

In other news, Director Vincent A. Miller sold 3,200 shares of the stock in a transaction on Monday, March 22nd. The shares were sold at an average price of $49.00, for a total value of $156,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Rock Ventures Ii L.P. Third sold 378,117 shares of the stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $30.20, for a total transaction of $11,419,133.40. The disclosure for this sale can be found here. Insiders sold a total of 640,270 shares of company stock worth $21,233,129 over the last quarter.

Shares of RVMD stock opened at $33.62 on Friday. The stock has a market cap of $2.47 billion, a PE ratio of -17.42 and a beta of 2.02. The company’s 50 day simple moving average is $35.21. Revolution Medicines, Inc. has a 12 month low of $21.17 and a 12 month high of $56.18.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Monday, May 10th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.01). Revolution Medicines had a negative return on equity of 24.40% and a negative net margin of 302.67%. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -2.33 EPS for the current fiscal year.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.

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Institutional Ownership by Quarter for Revolution Medicines (NASDAQ:RVMD)

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