KLP Kapitalforvaltning AS Buys Shares of 23,504 Revolution Medicines, Inc. (NASDAQ:RVMD)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc acquired a new stake in Revolution Medicines during the 4th quarter worth $34,000. Quarry LP bought a new stake in shares of Revolution Medicines in the third quarter worth about $82,000. Farther Finance Advisors LLC raised its position in shares of Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after purchasing an additional 1,613 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Revolution Medicines by 521.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock valued at $165,000 after purchasing an additional 3,178 shares in the last quarter. Finally, Avanza Fonder AB acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $173,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Insiders Place Their Bets

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at $5,993,928.32. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jack Anders sold 1,864 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 value of $72,770.56. Following the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock worth $650,406 over the last three months. Insiders own 8.00% of the company's stock.

Revolution Medicines Stock Performance

RVMD traded down $1.55 during trading on Friday, reaching $31.32. 2,376,753 shares of the stock were exchanged, compared to its average volume of 1,406,349. The stock's 50 day moving average price is $39.61 and its two-hundred day moving average price is $45.24. Revolution Medicines, Inc. has a twelve month low of $29.55 and a twelve month high of $62.40. The stock has a market cap of $5.82 billion, a P/E ratio of -8.72 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results 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 research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on RVMD shares. UBS Group raised their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Wedbush restated an "outperform" rating and set a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, February 27th. Needham & Company LLC cut 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 report on Thursday, February 27th. HC Wainwright increased their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Finally, Stifel Nicolaus dropped their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $65.23.

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.