Tower Research Capital LLC TRC Has $808,000 Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Tower Research Capital LLC TRC increased its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 672.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,479 shares of the company's stock after purchasing an additional 16,087 shares during the period. Tower Research Capital LLC TRC's holdings in Revolution Medicines were worth $808,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of RVMD. Wilmington Savings Fund Society FSB bought a new position in Revolution Medicines in the third quarter valued at approximately $801,000. Barclays PLC raised its holdings in shares of Revolution Medicines by 187.1% during the third quarter. Barclays PLC now owns 294,664 shares of the company's stock worth $13,362,000 after acquiring an additional 192,021 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Revolution Medicines by 92.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company's stock valued at $2,711,000 after acquiring an additional 29,853 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Revolution Medicines by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock worth $84,467,000 after purchasing an additional 167,997 shares during the period. Finally, Sandy Cove Advisors LLC bought a new position in Revolution Medicines during the 4th quarter worth about $1,837,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $38.77 on Friday. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of -10.80 and a beta of 1.37. The firm's 50-day moving average is $37.43 and its 200-day moving average is $44.05.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data 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). Sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 3,058 shares of the business'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 in the company, valued at $5,993,928.32. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 11,738 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the transaction, the insider now directly owns 441,564 shares in the company, valued at approximately $17,238,658.56. This represents a 2.59 % decrease in their ownership of the stock. 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 ninety days. 8.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RVMD has been the topic of a number of research reports. UBS Group boosted 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. Needham & Company LLC restated a "buy" rating and issued a $59.00 target price on shares of Revolution Medicines in a research note on Tuesday, April 8th. HC Wainwright raised their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Wedbush reissued an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, February 27th. Finally, Stifel Nicolaus reduced their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $66.67.

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.

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