321,611 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after purchasing an additional 2,185,082 shares during the period. Lord Abbett & CO. LLC acquired a new position in Revolution Medicines during the 3rd quarter worth approximately $83,082,000. Norges Bank bought a new position in Revolution Medicines in the fourth quarter worth approximately $76,197,000. FMR LLC increased its holdings in shares of Revolution Medicines by 14.7% during the fourth quarter. FMR LLC now owns 6,742,083 shares of the company's stock valued at $294,899,000 after acquiring an additional 866,190 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in Revolution Medicines by 4,399.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 712,596 shares of the company's stock worth $31,169,000 after buying an additional 696,759 shares during the last quarter. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Up 0.6 %

Shares of RVMD stock traded up $0.23 during trading on Friday, hitting $38.81. The company had a trading volume of 624,133 shares, compared to its average volume of 1,428,613. The stock's 50-day moving average is $37.49 and its two-hundred day moving average is $44.16. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of -10.79 and a beta of 1.37. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. HC Wainwright raised their price objective on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $59.00 target price on shares of Revolution Medicines in a research note on Tuesday, April 8th. Wedbush reissued an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, February 27th. Finally, UBS Group lifted their target price on Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $66.67.

Insiders Place Their Bets

In other news, CFO Jack Anders sold 1,864 shares of the business'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 $72,770.56. Following the transaction, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the firm's stock in a transaction on 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 sale, the chief operating officer now directly owns 153,533 shares of the company's stock, valued at $5,993,928.32. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock valued at $650,406 over the last 90 days. Insiders own 8.00% of the company's stock.

Revolution Medicines Company 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.