WCM Investment Management LLC Invests $6.80 Million in Revolution Medicines, Inc. (NASDAQ:RVMD)

WCM Investment Management LLC bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 157,477 shares of the company's stock, valued at approximately $6,798,000. WCM Investment Management LLC owned about 0.09% of Revolution Medicines as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Revolution Medicines in the third quarter valued at about $801,000. Citigroup Inc. raised its position in shares of Revolution Medicines by 29.5% in the third quarter. Citigroup Inc. now owns 117,938 shares of the company's stock valued at $5,348,000 after buying an additional 26,871 shares during the last quarter. State Street Corp raised its position in shares of 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 buying an additional 208,516 shares during the last quarter. Barclays PLC raised its position in shares of Revolution Medicines by 187.1% in the third quarter. Barclays PLC now owns 294,664 shares of the company's stock valued at $13,362,000 after buying an additional 192,021 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Revolution Medicines by 58.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company's stock valued at $79,957,000 after buying an additional 653,433 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Down 1.6 %

Shares of RVMD traded down $0.68 during trading on Thursday, reaching $41.32. 1,112,404 shares of the company traded hands, compared to its average volume of 1,317,566. Revolution Medicines, Inc. has a twelve month low of $28.43 and a twelve month high of $62.40. The stock has a market cap of $6.95 billion, a PE ratio of -11.51 and a beta of 1.45. The stock has a 50-day simple moving average of $43.21 and a 200-day simple moving average of $46.42.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, Director Thilo Schroeder acquired 1,304,347 shares of the stock in a transaction dated Thursday, December 5th. The stock was acquired at an average price of $46.00 per share, with a total value of $59,999,962.00. Following the completion of the purchase, the director now owns 2,096,612 shares in the company, valued at $96,444,152. This trade represents a 164.64 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jack Anders sold 2,635 shares of the firm'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 transaction of $119,629.00. Following the completion of the transaction, the chief financial officer now directly owns 96,470 shares of the company's stock, valued at approximately $4,379,738. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,678 shares of company stock worth $847,981 over the last three months. Insiders own 8.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $68.00 target price on shares of Revolution Medicines in a research report on Tuesday, December 3rd. Piper Sandler raised their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Oppenheimer raised their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday, October 28th. Wedbush restated an "outperform" rating and set a $70.00 price objective on shares of Revolution Medicines in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Revolution Medicines has an average rating of "Buy" and an average target price of $66.25.

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.