Aquatic Capital Management LLC Buys 78,605 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Aquatic Capital Management LLC boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 225.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,405 shares of the company’s stock after purchasing an additional 78,605 shares during the quarter. Aquatic Capital Management LLC owned 0.07% of Revolution Medicines worth $4,960,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of RVMD. Barclays PLC raised its position in shares of Revolution Medicines by 187.1% during the third quarter. Barclays PLC now owns 294,664 shares of the company’s stock valued at $13,362,000 after buying an additional 192,021 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Revolution Medicines during the third quarter valued at about $801,000. Lord Abbett & CO. LLC acquired a new position in Revolution Medicines in the 3rd quarter valued at approximately $83,082,000. Everence Capital Management Inc. bought a new stake in shares of Revolution Medicines in the 4th quarter worth approximately $203,000. Finally, Avanza Fonder AB acquired a new stake in shares of Revolution Medicines during the 4th quarter worth approximately $173,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $38.77 on Friday. The stock’s 50 day simple moving average is $37.43 and its 200 day simple moving average is $44.05. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The firm has a market cap of $7.21 billion, a PE ratio of -10.80 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, equities analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jack Anders sold 1,864 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 transaction of $72,770.56. Following the transaction, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Margaret A. Horn sold 3,058 shares of the firm’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 transaction of $119,384.32. Following the completion of the sale, the chief operating officer now directly owns 153,533 shares of the company’s stock, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 in the last 90 days. 8.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. HC Wainwright upped 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 issued a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Tuesday, April 8th. UBS Group increased their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus decreased their price objective on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average 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.