Wingate Wealth Advisors Inc. Buys New Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Wingate Wealth Advisors Inc. acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the company's stock, valued at approximately $437,000.

A number of other institutional investors have also recently added to or reduced their stakes in RVMD. Janus Henderson Group PLC increased its stake in Revolution Medicines by 32.3% during the third quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company's stock worth $278,280,000 after acquiring an additional 1,497,026 shares during the last quarter. FMR LLC grew its stake in shares of Revolution Medicines by 4.4% in the third quarter. FMR LLC now owns 5,875,893 shares of the company's stock valued at $266,472,000 after buying an additional 250,037 shares in the last quarter. State Street Corp grew its stake in shares of Revolution Medicines by 4.1% in the third quarter. State Street Corp now owns 5,279,584 shares of the company's stock valued at $239,429,000 after buying an additional 208,516 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Revolution Medicines by 8.7% in the third quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company's stock valued at $164,517,000 after buying an additional 291,369 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Revolution Medicines in the third quarter valued at $83,082,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RVMD. Needham & Company LLC reaffirmed a "buy" rating and issued a $68.00 price objective on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Wedbush reissued an "outperform" rating and set a $70.00 target price on shares of Revolution Medicines in a research note on Monday, December 2nd. Oppenheimer boosted their target price on Revolution Medicines from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on Revolution Medicines from $63.00 to $71.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Finally, Guggenheim lifted their price target on Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $66.25.

Revolution Medicines Trading Down 1.6 %

Shares of Revolution Medicines stock traded down $0.68 on Thursday, hitting $41.32. The stock had a trading volume of 1,112,404 shares, compared to its average volume of 1,317,566. The company's 50 day moving average price is $43.21 and its 200 day moving average price is $46.42. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of -11.51 and a beta of 1.45. Revolution Medicines, Inc. has a 52-week low of $28.43 and a 52-week high of $62.40.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, Director Thilo Schroeder bought 1,304,347 shares of the company's stock in a transaction on Thursday, December 5th. The shares were bought at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark A. Goldsmith sold 11,714 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $14,757,542.40. The trade was a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,678 shares of company stock valued at $847,981 in the last ninety 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.