Rock Springs Capital Management LP Acquires 203,312 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Rock Springs Capital Management LP grew its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,213,257 shares of the company's stock after purchasing an additional 203,312 shares during the period. Revolution Medicines makes up about 2.0% of Rock Springs Capital Management LP's holdings, making the stock its 15th biggest position. Rock Springs Capital Management LP owned about 0.72% of Revolution Medicines worth $53,068,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CIBC Asset Management Inc lifted its position in shares of Revolution Medicines by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock worth $220,000 after acquiring an additional 270 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Revolution Medicines by 11.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock worth $186,000 after purchasing an additional 434 shares in the last quarter. Amalgamated Bank boosted its stake in Revolution Medicines by 8.3% in the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company's stock worth $250,000 after purchasing an additional 435 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Revolution Medicines by 5.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock valued at $498,000 after buying an additional 545 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Revolution Medicines by 2.0% during the fourth quarter. Arizona State Retirement System now owns 33,905 shares of the company's stock valued at $1,483,000 after buying an additional 650 shares during the period. 94.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Revolution Medicines

In related news, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the sale, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 3,058 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the transaction, 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. Over the last 90 days, insiders sold 16,660 shares of company stock worth $650,406. 8.00% of the stock is currently owned by insiders.

Revolution Medicines Trading Up 0.5 %

Shares of RVMD traded up $0.19 during mid-day trading on Friday, reaching $38.77. The company's stock had a trading volume of 1,075,976 shares, compared to its average volume of 1,430,851. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40. The company's fifty day moving average price is $37.43 and its two-hundred day moving average price is $44.08. The stock has a market cap of $7.21 billion, a PE ratio of -10.80 and a beta of 1.37.

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

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.