Proficio Capital Partners LLC Purchases Shares of 17,146 Revolution Medicines, Inc. (NASDAQ:RVMD)

Proficio Capital Partners 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 filing with the Securities and Exchange Commission (SEC). The fund bought 17,146 shares of the company's stock, valued at approximately $750,000.

Several other institutional investors have also recently bought and sold shares of RVMD. CIBC Asset Management Inc bought a new stake in shares of Revolution Medicines during the 3rd quarter valued at approximately $216,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Revolution Medicines during the third quarter worth $1,220,000. Intech Investment Management LLC acquired a new position in shares of Revolution Medicines during the third quarter worth $1,709,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Revolution Medicines by 58.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company's stock worth $79,957,000 after buying an additional 653,433 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Revolution Medicines in the 3rd quarter valued at $3,267,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Stock Performance

Shares of RVMD stock traded down $0.73 during mid-day trading on Wednesday, hitting $37.72. The company's stock had a trading volume of 1,039,410 shares, compared to its average volume of 1,344,069. The company has a market cap of $7.01 billion, a PE ratio of -10.51 and a beta of 1.46. The company's fifty day simple moving average is $40.46 and its 200-day simple moving average is $45.70. Revolution Medicines, Inc. has a 52 week low of $29.55 and a 52 week high of $62.40.

Remove Ads

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released 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). On average, equities analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,738 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the transaction, the insider now owns 441,564 shares of the company's stock, valued at $17,238,658.56. This represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now owns 115,006 shares of the company's stock, valued at approximately $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 a total of 16,660 shares of company stock valued at $650,406 in the last quarter. 8.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on RVMD. Stifel Nicolaus lowered their target price on Revolution Medicines from $80.00 to $78.00 and set a "buy" rating for the company in a report on Thursday, February 27th. HC Wainwright boosted their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. UBS Group raised their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Finally, Guggenheim upped their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $66.31.

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.