Proficio Capital Partners LLC Takes Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Proficio Capital Partners LLC bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 4th quarter, HoldingsChannel reports. The firm bought 17,146 shares of the company’s stock, valued at approximately $750,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new stake in Revolution Medicines in the 4th quarter worth $34,000. Quarry LP purchased a new position in shares of Revolution Medicines during the third quarter valued at approximately $82,000. Avanza Fonder AB purchased a new position in Revolution Medicines in the fourth quarter worth about $173,000. Everence Capital Management Inc. purchased a new position in shares of Revolution Medicines during the 4th quarter worth $203,000. Finally, CIBC Asset Management Inc purchased a new stake in Revolution Medicines in the 3rd quarter worth approximately $216,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Down 1.0 %

Shares of NASDAQ RVMD opened at $38.11 on Friday. Revolution Medicines, Inc. has a 12 month low of $29.55 and a 12 month high of $62.40. The company has a market cap of $7.09 billion, a P/E ratio of -10.62 and a beta of 1.46. The business’s 50 day moving average is $40.55 and its two-hundred day moving average is $45.73.

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

Analyst Ratings Changes

RVMD has been the topic of a number of research reports. Stifel Nicolaus reduced their price objective 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. HC Wainwright increased their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. Needham & Company LLC reduced their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted 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. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and an average price target of $66.31.

Insider Buying and Selling

In other Revolution Medicines news, CFO Jack Anders sold 1,864 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the sale, the chief financial officer now directly owns 115,006 shares of the company’s stock, valued at approximately $4,489,834.24. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was 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 $5,993,928.32. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock worth $650,406 in the last 90 days. Corporate insiders own 8.00% of the company’s stock.

Revolution Medicines Company 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.