Artia Global Partners LP Raises Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Artia Global Partners LP increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 196.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 284,190 shares of the company's stock after purchasing an additional 188,305 shares during the quarter. Revolution Medicines accounts for approximately 4.4% of Artia Global Partners LP's investment portfolio, making the stock its 9th largest position. Artia Global Partners LP owned 0.17% of Revolution Medicines worth $12,430,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RVMD. CIBC Asset Management Inc lifted its holdings in shares of Revolution Medicines by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock worth $220,000 after acquiring an additional 270 shares during the period. Russell Investments Group Ltd. lifted its stake in Revolution Medicines by 11.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock worth $186,000 after purchasing an additional 434 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Revolution Medicines by 8.3% in the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company's stock valued at $250,000 after purchasing an additional 435 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Revolution Medicines by 5.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock valued at $498,000 after purchasing an additional 545 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Revolution Medicines by 2.0% during the 4th quarter. Arizona State Retirement System now owns 33,905 shares of the company's stock worth $1,483,000 after buying an additional 650 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RVMD shares. Stifel Nicolaus decreased their target price on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. UBS Group upped their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Needham & Company LLC restated a "buy" rating and issued a $59.00 target price on shares of Revolution Medicines in a research report on Tuesday, April 8th. Wedbush reiterated an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. Finally, HC Wainwright boosted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $66.67.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $38.77 on Friday. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of -10.80 and a beta of 1.37. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The firm has a 50 day moving average price of $37.43 and a two-hundred day moving average price of $44.05.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 3,058 shares of the 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 in the company, valued at $5,993,928.32. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value 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 approximately $4,489,834.24. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 over the last ninety days. 8.00% of the stock is owned by corporate insiders.

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.

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