Hood River Capital Management LLC Raises Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Hood River Capital Management LLC boosted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 25.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,678,434 shares of the company's stock after purchasing an additional 345,622 shares during the quarter. Hood River Capital Management LLC owned about 1.00% of Revolution Medicines worth $73,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Revolution Medicines during the 3rd quarter valued at $801,000. Barclays PLC raised its holdings in shares of Revolution Medicines by 187.1% during the third quarter. Barclays PLC now owns 294,664 shares of the company's stock valued at $13,362,000 after purchasing an additional 192,021 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Revolution Medicines by 92.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company's stock worth $2,711,000 after purchasing an additional 29,853 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Revolution Medicines by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock worth $84,467,000 after purchasing an additional 167,997 shares during the period. Finally, Sandy Cove Advisors LLC purchased a new stake in shares of Revolution Medicines in the fourth quarter worth $1,837,000. 94.34% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Mark A. Goldsmith sold 11,738 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the transaction, the insider now directly owns 441,564 shares of the company's stock, valued at $17,238,658.56. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jack Anders sold 1,864 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $4,489,834.24. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock worth $650,406 over the last 90 days. 8.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. 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. Stifel Nicolaus decreased their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. HC Wainwright raised their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Tuesday, April 8th. Finally, UBS Group upped their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $66.67.

Revolution Medicines Stock Performance

RVMD stock opened at $36.86 on Wednesday. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The company has a fifty day moving average of $37.59 and a 200-day moving average of $44.27. The stock has a market capitalization of $6.85 billion, a PE ratio of -10.27 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its 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). Equities analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal 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.

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