Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP lessened its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 34.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,790 shares of the company's stock after selling 18,571 shares during the quarter. Cinctive Capital Management LP's holdings in Revolution Medicines were worth $1,522,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Revolution Medicines in the 3rd quarter worth $801,000. State Street Corp boosted its holdings 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 purchasing an additional 208,516 shares during the period. Barclays PLC grew its position in shares of Revolution Medicines by 187.1% during the 3rd quarter. Barclays PLC now owns 294,664 shares of the company's stock worth $13,362,000 after buying an additional 192,021 shares in the last quarter. Geode Capital Management LLC grew its holdings in Revolution Medicines by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company's stock worth $164,517,000 after acquiring an additional 291,369 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Revolution Medicines by 92.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company's stock valued at $2,711,000 after buying an additional 29,853 shares during the period. Hedge funds and other institutional investors own 94.34% of the company's stock.

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Insiders Place Their Bets

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the transaction, the chief operating officer now owns 153,533 shares in the company, valued at approximately $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at $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 sold 16,660 shares of company stock valued at $650,406 in the last ninety days. Insiders own 8.00% of the company's stock.

Analysts Set New Price Targets

RVMD has been the topic of a number of analyst reports. HC Wainwright lifted their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. 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. Stifel Nicolaus dropped their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Needham & Company LLC reiterated a "buy" rating and set a $59.00 price target on shares of Revolution Medicines in a research report on Tuesday. Finally, Wedbush reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, February 27th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $65.23.

Revolution Medicines Stock Up 12.8 %

Shares of RVMD traded up $3.99 during trading on Wednesday, reaching $35.12. 4,708,769 shares of the company traded hands, compared to its average volume of 1,435,184. The stock has a market cap of $6.53 billion, a PE ratio of -9.78 and a beta of 1.37. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The stock has a 50-day simple moving average of $38.71 and a 200-day simple moving average of $44.84.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly 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). On average, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

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.