Rhumbline Advisers Boosts Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Rhumbline Advisers grew its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 251,465 shares of the company's stock after purchasing an additional 24,473 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of Revolution Medicines worth $10,999,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP bought a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $82,000. KBC Group NV raised its stake in shares of Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company's stock worth $146,000 after acquiring an additional 368 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Revolution Medicines during the 4th quarter worth approximately $173,000. Everence Capital Management Inc. bought a new position in shares of Revolution Medicines during the 4th quarter worth approximately $203,000. Finally, CIBC Asset Management Inc bought a new position in shares of Revolution Medicines during the 3rd quarter worth approximately $216,000. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Down 3.5 %

RVMD stock traded down $1.42 during mid-day trading on Thursday, hitting $39.08. 2,141,487 shares of the company were exchanged, compared to its average volume of 1,309,121. The firm has a market capitalization of $6.57 billion, a P/E ratio of -10.89 and a beta of 1.45. The business has a fifty day simple moving average of $42.30 and a 200-day simple moving average of $46.24. Revolution Medicines, Inc. has a 12-month low of $29.00 and a 12-month high of $62.40.

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Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted 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). Research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Activity

In other news, insider Mark A. Goldsmith sold 11,714 shares of the firm'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 $531,815.60. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thilo Schroeder acquired 1,304,347 shares of the stock in a transaction dated Thursday, December 5th. The stock was acquired at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the purchase, the director now owns 2,096,612 shares of the company's stock, valued at approximately $96,444,152. This trade represents a 164.64 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 18,678 shares of company stock valued at $847,981. 8.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Wedbush reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday. Guggenheim upped their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Needham & Company LLC lowered their price target on shares of Revolution Medicines from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday. Finally, HC Wainwright upped their price objective on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $66.23.

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.