Empowered Funds LLC Purchases New Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Empowered Funds LLC bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 132,679 shares of the company's stock, valued at approximately $5,803,000. Empowered Funds LLC owned approximately 0.08% of Revolution Medicines as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RVMD. AQR Capital Management LLC bought a new position in shares of Revolution Medicines in the second quarter valued at approximately $498,000. GAMMA Investing LLC lifted its holdings in Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company's stock worth $28,000 after acquiring an additional 222 shares during the period. Creative Planning lifted its holdings in Revolution Medicines by 40.1% during the third quarter. Creative Planning now owns 37,868 shares of the company's stock worth $1,717,000 after acquiring an additional 10,839 shares during the period. Vontobel Holding Ltd. bought a new stake in Revolution Medicines during the third quarter worth $246,000. Finally, Raymond James & Associates lifted its holdings in Revolution Medicines by 156.2% during the third quarter. Raymond James & Associates now owns 190,505 shares of the company's stock worth $8,639,000 after acquiring an additional 116,135 shares during the period. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Down 1.6 %

NASDAQ:RVMD traded down $0.65 during trading hours on Friday, hitting $40.67. 1,461,401 shares of the company's stock traded hands, compared to its average volume of 1,412,222. The firm has a market cap of $6.84 billion, a P/E ratio of -11.33 and a beta of 1.45. Revolution Medicines, Inc. has a 52 week low of $28.43 and a 52 week high of $62.40. The business's fifty day simple moving average is $42.95 and its two-hundred day simple moving average is $46.35.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 4,329 shares of Revolution Medicines stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $196,536.60. Following the completion of the sale, the chief operating officer now owns 127,991 shares of the company's stock, valued at $5,810,791.40. The trade was a 3.27 % 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, Director Thilo Schroeder purchased 1,304,347 shares of the company's stock in a transaction on Thursday, December 5th. The shares were purchased at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the purchase, the director now owns 2,096,612 shares of the company's stock, valued at approximately $96,444,152. The trade was a 164.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 18,678 shares of company stock valued at $847,981. Company insiders own 8.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Revolution Medicines from $63.00 to $71.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Oppenheimer lifted their price target on Revolution Medicines from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. UBS Group lifted their price target on Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Guggenheim lifted their price target on Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler lifted their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Revolution Medicines presently has a consensus rating of "Buy" and an average target price of $66.25.

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.