Rafferty Asset Management LLC Buys 4,947 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Rafferty Asset Management LLC grew its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 172,786 shares of the company’s stock after acquiring an additional 4,947 shares during the period. Rafferty Asset Management LLC’s holdings in Revolution Medicines were worth $7,558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RVMD. Boxer Capital Management LLC bought a new position in shares of Revolution Medicines in the fourth quarter worth approximately $187,184,000. Janus Henderson Group PLC increased its position in shares of Revolution Medicines by 54.5% in the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company’s stock worth $414,777,000 after purchasing an additional 3,346,755 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Revolution Medicines by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock worth $747,799,000 after purchasing an additional 2,185,082 shares during the last quarter. Farallon Capital Management LLC increased its position in shares of Revolution Medicines by 17.1% in the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock worth $579,498,000 after purchasing an additional 1,931,000 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Revolution Medicines in the fourth quarter worth approximately $76,197,000. 94.34% of the stock is currently owned by institutional investors.

Insider Transactions at Revolution Medicines

In other news, CFO Jack Anders sold 1,864 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 value of $72,770.56. Following the transaction, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. This trade 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 hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the transaction, the chief operating officer now owns 153,533 shares in the company, valued at $5,993,928.32. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,660 shares of company stock worth $650,406. Insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RVMD. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Revolution Medicines in a research report on Thursday, May 8th. HC Wainwright reiterated a “buy” rating and set a $72.00 price target (down from $73.00) on shares of Revolution Medicines in a research report on Wednesday. Wedbush reiterated an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, May 8th. Oppenheimer increased their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, Stifel Nicolaus reduced their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Revolution Medicines presently has an average rating of “Buy” and an average target price of $67.08.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $39.54 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 capitalization of $7.37 billion, a price-to-earnings ratio of -11.01 and a beta of 1.11. The company’s 50 day moving average price is $37.49 and its 200-day moving average price is $43.12.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same period in the previous year, the company posted ($0.70) EPS. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

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.