Rhumbline Advisers Acquires 24,473 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Rhumbline Advisers raised its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 251,465 shares of the company’s stock after purchasing an additional 24,473 shares during the quarter. Rhumbline Advisers owned 0.15% of Revolution Medicines worth $10,999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new stake in Revolution Medicines in the third quarter valued at about $82,000. KBC Group NV lifted its holdings in shares of Revolution Medicines by 12.9% in the third 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 last quarter. Avanza Fonder AB acquired a new stake in shares of Revolution Medicines in the 4th quarter valued at approximately $173,000. Everence Capital Management Inc. bought a new stake in shares of Revolution Medicines during the 4th quarter valued at approximately $203,000. Finally, CIBC Asset Management Inc acquired a new position in Revolution Medicines during the 3rd quarter worth approximately $216,000. Institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,714 shares of the business’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 value of $531,815.60. Following the transaction, the insider now directly owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 2,635 shares of Revolution Medicines stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the completion of the sale, the chief financial officer now owns 96,470 shares of the company’s stock, valued at $4,379,738. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,678 shares of company stock valued at $847,981. 8.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RVMD has been the topic of a number of research analyst reports. Piper Sandler raised their target price 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. Oppenheimer raised their price objective on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. UBS Group increased their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Wedbush restated an “outperform” rating and set a $70.00 price target on shares of Revolution Medicines in a report on Monday, December 2nd. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $66.25.

Revolution Medicines Price Performance

Shares of RVMD opened at $41.34 on Monday. The business has a 50-day moving average of $42.49 and a 200-day moving average of $46.29. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of -11.52 and a beta of 1.45. Revolution Medicines, Inc. has a 1 year low of $28.65 and a 1 year high of $62.40.

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.