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

Proficio Capital Partners LLC acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 17,146 shares of the company's stock, valued at approximately $750,000.

A number of other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc bought a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $34,000. Quarry LP bought a new position in Revolution Medicines in the 3rd quarter valued at $82,000. KBC Group NV grew its stake in Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company's stock valued at $146,000 after purchasing an additional 368 shares during the period. Avanza Fonder AB purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at $173,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Revolution Medicines during the 4th quarter worth $203,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RVMD. Stifel Nicolaus reduced their price target on shares of Revolution Medicines from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reduced their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. UBS Group lifted their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Wedbush reiterated an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Finally, Guggenheim raised their target price on Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" 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 stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $66.31.

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Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 2,635 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the completion of the transaction, the chief financial officer now owns 96,470 shares of the company's stock, valued at $4,379,738. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Margaret A. Horn sold 4,329 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $196,536.60. Following the sale, the chief operating officer now owns 127,991 shares in the company, valued at $5,810,791.40. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,678 shares of company stock valued at $847,981. 8.00% of the stock is currently owned by company insiders.

Revolution Medicines Price Performance

Shares of RVMD traded up $0.19 during midday trading on Wednesday, hitting $39.08. 879,158 shares of the company traded hands, compared to its average volume of 1,365,659. Revolution Medicines, Inc. has a one year low of $29.55 and a one year high of $62.40. The firm has a market cap of $7.27 billion, a P/E ratio of -10.89 and a beta of 1.46. The stock has a 50-day moving average of $41.37 and a 200-day moving average of $45.97.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal 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.