Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 674.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 208,401 shares of the company's stock after purchasing an additional 181,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Revolution Medicines worth $9,115,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in RVMD. IFP Advisors Inc purchased a new position in Revolution Medicines during the 4th quarter valued at approximately $34,000. Quarry LP purchased a new position in shares of Revolution Medicines in the third quarter valued at $82,000. Farther Finance Advisors LLC increased its position in Revolution Medicines by 368.3% in 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 last quarter. KBC Group NV raised its stake in Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company's stock valued at $146,000 after purchasing an additional 368 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Revolution Medicines by 521.8% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Revolution Medicines from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC decreased their price objective on Revolution Medicines from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their price objective on Revolution Medicines from $63.00 to $71.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. HC Wainwright boosted their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Finally, Wedbush restated an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, February 27th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $66.31.

Revolution Medicines Stock Performance

Revolution Medicines stock traded up $0.59 during midday trading on Wednesday, hitting $38.75. 1,288,279 shares of the company's stock were exchanged, compared to its average volume of 1,347,713. Revolution Medicines, Inc. has a 12 month low of $29.55 and a 12 month high of $62.40. The company has a market cap of $7.20 billion, a PE ratio of -10.79 and a beta of 1.46. The firm has a 50-day moving average of $40.86 and a two-hundred day moving average of $45.83.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, equities analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share 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.