Cibc World Markets Corp Invests $685,000 in Revolution Medicines, Inc. (NASDAQ:RVMD)

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

Other large investors also recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of Revolution Medicines by 2.0% in the 4th quarter. Swiss National Bank now owns 229,931 shares of the company's stock valued at $10,057,000 after acquiring an additional 4,400 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Revolution Medicines by 674.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 208,401 shares of the company's stock valued at $9,115,000 after purchasing an additional 181,500 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in 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 in the last quarter. Daiwa Securities Group Inc. lifted its position 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 worth $165,000 after buying an additional 3,178 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Revolution Medicines by 25.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,846 shares of the company's stock valued at $1,349,000 after buying an additional 6,284 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wedbush reaffirmed an "outperform" rating and set a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, February 27th. HC Wainwright lifted their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, March 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. UBS Group lifted their target price 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. Finally, Guggenheim increased their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $66.31.

Insiders Place Their Bets

In other news, insider Mark A. Goldsmith sold 11,738 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the sale, the insider now owns 441,564 shares of the company's stock, valued at $17,238,658.56. The trade was a 2.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of Revolution Medicines 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 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. In the last ninety days, insiders have sold 16,660 shares of company stock worth $650,406. Corporate insiders own 8.00% of the company's stock.

Revolution Medicines Stock Performance

RVMD traded down $0.89 during trading on Tuesday, reaching $38.45. The company's stock had a trading volume of 922,596 shares, compared to its average volume of 1,347,167. The company's fifty day moving average price is $40.46 and its 200-day moving average price is $45.70. Revolution Medicines, Inc. has a 52-week low of $29.55 and a 52-week high of $62.40. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of -10.71 and a beta of 1.46.

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

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.