Price T Rowe Associates Inc. MD Purchases 552,657 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Price T Rowe Associates Inc. MD boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,865,962 shares of the company's stock after acquiring an additional 552,657 shares during the period. Price T Rowe Associates Inc. MD owned 3.49% of Revolution Medicines worth $256,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc raised its stake in Revolution Medicines by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock valued at $220,000 after acquiring an additional 270 shares during the period. Russell Investments Group Ltd. raised its stake in Revolution Medicines by 11.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock valued at $186,000 after acquiring an additional 434 shares during the period. Amalgamated Bank raised its stake in Revolution Medicines by 8.3% in the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company's stock valued at $250,000 after acquiring an additional 435 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Revolution Medicines by 5.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock worth $498,000 after buying an additional 545 shares during the period. Finally, Arizona State Retirement System increased its position in Revolution Medicines by 2.0% during the 4th quarter. Arizona State Retirement System now owns 33,905 shares of the company's stock worth $1,483,000 after buying an additional 650 shares during the period. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Price Performance

RVMD stock traded up $2.70 during trading on Monday, reaching $41.47. 2,872,304 shares of the company were exchanged, compared to its average volume of 1,437,485. The company has a 50-day moving average of $37.42 and a two-hundred day moving average of $43.95. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of -11.55 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.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.11). On average, analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, 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 value of $72,770.56. Following the completion of the transaction, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. This represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Margaret A. Horn sold 3,058 shares of the company's stock in a transaction on 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 sale, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,660 shares of company stock worth $650,406. 8.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RVMD shares. Stifel Nicolaus lowered their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. UBS Group increased their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. HC Wainwright increased 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. Wedbush reiterated an "outperform" rating and set a $67.00 price objective on shares of Revolution Medicines in a research report on Monday. Finally, Needham & Company LLC reissued a "buy" rating and set a $59.00 target price on shares of Revolution Medicines in a report on Tuesday, April 8th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, Revolution Medicines presently has a consensus rating of "Buy" and an average price target of $66.67.

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.