Proficio Capital Partners LLC Purchases New Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Proficio Capital Partners LLC acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,146 shares of the company’s stock, valued at approximately $750,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. IFP Advisors Inc bought a new position in shares of Revolution Medicines during the fourth quarter worth approximately $34,000. Quarry LP bought a new stake in shares of Revolution Medicines during the 3rd quarter worth approximately $82,000. KBC Group NV lifted its holdings in shares of Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after acquiring an additional 368 shares during the period. Avanza Fonder AB bought a new stake in shares of Revolution Medicines during the 4th quarter worth approximately $173,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Revolution Medicines during the 4th quarter worth approximately $203,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 4,329 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $196,536.60. Following the completion of the transaction, the chief operating officer now owns 127,991 shares of the company’s stock, valued at $5,810,791.40. This represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jack Anders sold 2,635 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the transaction, the chief financial officer now directly owns 96,470 shares in the company, valued at $4,379,738. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,678 shares of company stock worth $847,981 in the last ninety days. 8.00% of the stock is owned by company insiders.

Revolution Medicines Stock Down 0.0 %

RVMD stock opened at $39.21 on Friday. The firm has a market capitalization of $7.29 billion, a PE ratio of -10.92 and a beta of 1.46. Revolution Medicines, Inc. has a twelve month low of $29.55 and a twelve month high of $62.40. The stock has a 50-day simple moving average of $41.59 and a two-hundred day simple moving average of $46.04.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RVMD. Guggenheim increased their target price on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Stifel Nicolaus reduced their price objective on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC cut their price objective on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, HC Wainwright raised their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $66.31.

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.