Candriam S.C.A. Has $28.73 Million Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Candriam S.C.A. increased its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 16.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 656,740 shares of the company's stock after purchasing an additional 92,958 shares during the period. Candriam S.C.A. owned 0.39% of Revolution Medicines worth $28,726,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lord Abbett & CO. LLC bought a new position in shares of Revolution Medicines in the 3rd quarter worth about $83,082,000. Janus Henderson Group PLC grew its position in shares of Revolution Medicines by 32.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company's stock valued at $278,280,000 after buying an additional 1,497,026 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 acquiring an additional 653,433 shares during the period. Fred Alger Management LLC lifted its holdings in Revolution Medicines by 2,384.3% in the third quarter. Fred Alger Management LLC now owns 540,673 shares of the company's stock worth $24,520,000 after acquiring an additional 518,909 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Revolution Medicines in the fourth quarter valued at approximately $14,067,000. 94.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 11,714 shares of Revolution Medicines stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the transaction, the insider now owns 325,056 shares of the company's stock, valued at approximately $14,757,542.40. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 2,635 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the sale, the chief financial officer now directly owns 96,470 shares of the company's stock, valued at $4,379,738. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,678 shares of company stock worth $847,981 in the last ninety days. 8.00% of the stock is currently owned by corporate insiders.

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Revolution Medicines Stock Down 6.1 %

NASDAQ RVMD traded down $2.39 on Monday, reaching $36.82. 1,818,704 shares of the stock traded hands, compared to its average volume of 1,363,635. Revolution Medicines, Inc. has a 12 month low of $29.55 and a 12 month high of $62.40. The company has a market cap of $6.85 billion, a price-to-earnings ratio of -10.26 and a beta of 1.46. The firm's fifty day simple moving average is $41.59 and its 200 day simple moving average is $46.05.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released 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 research analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analyst Ratings Changes

RVMD has been the subject of a number of analyst reports. Guggenheim boosted their price objective on Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. HC Wainwright raised their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Wedbush restated an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, February 27th. UBS Group increased their price objective 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. Finally, 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 note on Thursday, February 27th. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $66.31.

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.