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

Proficio Capital Partners LLC acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 17,146 shares of the company’s stock, valued at approximately $750,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in Revolution Medicines by 32.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock worth $278,280,000 after acquiring an additional 1,497,026 shares during the last quarter. FMR LLC grew its position in Revolution Medicines by 4.4% during the third quarter. FMR LLC now owns 5,875,893 shares of the company’s stock worth $266,472,000 after buying an additional 250,037 shares in the last quarter. 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 acquiring an additional 208,516 shares during the last quarter. Geode Capital Management LLC raised its position 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 purchasing an additional 291,369 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company’s stock valued at $84,467,000 after purchasing an additional 167,997 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RVMD. Stifel Nicolaus cut their price target on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. HC Wainwright raised their price objective on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. UBS Group boosted their price objective on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC dropped 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 note on Thursday, February 27th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and a consensus target price of $66.31.

Revolution Medicines Price Performance

RVMD opened at $38.11 on Friday. The firm’s fifty day moving average price is $40.55 and its two-hundred day moving average price is $45.73. The company has a market capitalization of $7.09 billion, a P/E ratio of -10.62 and a beta of 1.46. Revolution Medicines, Inc. has a fifty-two week low of $29.55 and a fifty-two week high of $62.40.

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

Insider Activity

In related news, COO Margaret A. Horn sold 3,058 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares of the company’s stock, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark A. Goldsmith sold 11,738 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the transaction, the insider now owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. This represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock worth $650,406 over the last ninety days. Insiders own 8.00% of the company’s stock.

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.