Cibc World Markets Corp Buys New Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Cibc World Markets Corp purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 15,664 shares of the company's stock, valued at approximately $685,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lord Abbett & CO. LLC acquired a new position in Revolution Medicines during the third quarter worth about $83,082,000. Janus Henderson Group PLC raised its holdings in shares of Revolution Medicines by 32.3% in the 3rd quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company's stock worth $278,280,000 after purchasing an additional 1,497,026 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Revolution Medicines by 58.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company's stock worth $79,957,000 after buying an additional 653,433 shares in the last quarter. Fred Alger Management LLC grew its position in Revolution Medicines by 2,384.3% in the third quarter. Fred Alger Management LLC now owns 540,673 shares of the company's stock worth $24,520,000 after buying an additional 518,909 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Revolution Medicines during the fourth quarter worth $14,067,000. Institutional investors own 94.34% of the company's stock.

Insider Activity

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

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Revolution Medicines Stock Down 1.9 %

Shares of RVMD traded down $0.73 during mid-day trading on Wednesday, hitting $37.72. 1,071,849 shares of the company's stock were exchanged, compared to its average volume of 1,344,069. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of -10.51 and a beta of 1.46. The firm has a fifty day moving average of $40.46 and a two-hundred day moving average of $45.70. Revolution Medicines, Inc. has a twelve month low of $29.55 and a twelve month high of $62.40.

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 the consensus estimate of ($1.01) by ($0.11). On average, equities analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on RVMD. Stifel Nicolaus dropped their price target 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. Guggenheim upped their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Wedbush reissued an "outperform" rating and set a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on Revolution Medicines from $63.00 to $71.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Finally, HC Wainwright lifted their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Twelve 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, the stock currently has a consensus rating of "Buy" and a consensus target price of $66.31.

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.