23,504 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 23,504 shares of the company’s stock, valued at approximately $1,028,000.

Other large investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Revolution Medicines during the third quarter valued at approximately $801,000. Citigroup Inc. increased its holdings in shares of Revolution Medicines by 29.5% in the 3rd quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock valued at $5,348,000 after acquiring an additional 26,871 shares during the period. State Street Corp raised its position in shares of Revolution Medicines by 4.1% in the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock worth $239,429,000 after acquiring an additional 208,516 shares in the last quarter. Barclays PLC lifted its stake in shares of Revolution Medicines by 187.1% during the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after purchasing an additional 192,021 shares during the last quarter. Finally, FMR LLC boosted 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 valued at $266,472,000 after purchasing an additional 250,037 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Guggenheim lifted their price target 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. JPMorgan Chase & Co. increased their price objective on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Stifel Nicolaus dropped their target price 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. Finally, Wedbush reaffirmed an “outperform” rating and set a $67.00 target price on shares of Revolution Medicines in a research report 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 company. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and an average price target of $66.31.

Insider Buying and Selling at Revolution Medicines

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

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $37.35 on Monday. The firm has a market capitalization of $6.94 billion, a P/E ratio of -10.40 and a beta of 1.46. The company’s fifty day moving average price is $40.32 and its 200-day moving average price is $45.61. Revolution Medicines, Inc. has a 1-year low of $29.55 and a 1-year high of $62.40.

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

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.