Raymond James Financial Inc. Makes New Investment in Revolution Medicines, Inc. (NASDAQ:RVMD)

Raymond James Financial Inc. acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 321,611 shares of the company's stock, valued at approximately $14,067,000. Raymond James Financial Inc. owned approximately 0.19% of Revolution Medicines as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RVMD. IFP Advisors Inc acquired a new position in Revolution Medicines in the fourth quarter valued at $34,000. Quarry LP acquired a new position in Revolution Medicines in the third quarter valued at $82,000. KBC Group NV increased its stake in Revolution Medicines by 12.9% in the third 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 last quarter. Avanza Fonder AB acquired a new position in Revolution Medicines in the fourth quarter valued at $173,000. Finally, Everence Capital Management Inc. acquired a new position in Revolution Medicines in the fourth quarter valued at $203,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Performance

Shares of RVMD stock traded down $0.38 during trading hours on Friday, reaching $38.11. The company had a trading volume of 2,499,644 shares, compared to its average volume of 1,344,317. Revolution Medicines, Inc. has a twelve month low of $29.55 and a twelve month high of $62.40. The company has a market capitalization of $7.09 billion, a P/E ratio of -10.62 and a beta of 1.46. The stock's fifty day simple moving average is $40.55 and its 200 day simple moving average is $45.70.

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Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results 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). As a group, equities analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Activity at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jack Anders sold 1,864 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 value of $72,770.56. Following the completion of the transaction, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at $4,489,834.24. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,660 shares of company stock valued at $650,406. Insiders own 8.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RVMD shares. Stifel Nicolaus dropped their target price on Revolution Medicines from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on Revolution Medicines from $63.00 to $71.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. HC Wainwright upped their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. UBS Group upped their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, Guggenheim upped their price target on Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $66.31.

About Revolution Medicines

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.