Proficio Capital Partners LLC Buys New Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Proficio Capital Partners LLC purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,146 shares of the company's stock, valued at approximately $750,000.

Other large investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake in shares of Revolution Medicines by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock worth $220,000 after acquiring an additional 270 shares during the period. Captrust Financial Advisors lifted its holdings in Revolution Medicines by 4.1% during the 3rd quarter. Captrust Financial Advisors now owns 8,459 shares of the company's stock valued at $384,000 after purchasing an additional 337 shares during the last quarter. Amalgamated Bank boosted its position in Revolution Medicines by 8.3% during the fourth quarter. Amalgamated Bank now owns 5,707 shares of the company's stock worth $250,000 after purchasing an additional 435 shares during the period. IFP Advisors Inc acquired a new position in shares of Revolution Medicines in the fourth quarter valued at $34,000. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Revolution Medicines by 3.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 49,807 shares of the company's stock valued at $2,179,000 after purchasing an additional 1,623 shares during the period. Institutional investors and hedge funds own 94.34% of the company's stock.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of the 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 $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark A. Goldsmith sold 11,738 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was 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 approximately $17,238,658.56. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock worth $650,406 over the last three months. Company insiders own 8.00% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages recently commented on RVMD. UBS Group upped their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Wedbush reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a research report on Thursday, February 27th. Guggenheim increased their target price on Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. HC Wainwright boosted their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Revolution Medicines from $63.00 to $71.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Revolution Medicines currently has a consensus rating of "Buy" and an average target price of $66.31.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD traded down $0.89 during midday trading on Tuesday, hitting $38.45. 922,596 shares of the stock were exchanged, compared to its average volume of 1,347,167. The business's 50-day moving average price is $40.46 and its 200 day moving average price is $45.70. Revolution Medicines, Inc. has a 12 month low of $29.55 and a 12 month high of $62.40. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of -10.71 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted 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). As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

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.