Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC increased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 26.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 48,239 shares of the company’s stock after buying an additional 10,157 shares during the period. NEOS Investment Management LLC’s holdings in Revolution Medicines were worth $2,110,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc acquired a new position in Revolution Medicines in the fourth quarter valued at approximately $34,000. Quarry LP bought a new stake in shares of Revolution Medicines in the 3rd quarter worth approximately $82,000. Farther Finance Advisors LLC boosted its position in Revolution Medicines by 368.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after purchasing an additional 1,613 shares during the period. Daiwa Securities Group Inc. grew its stake in Revolution Medicines by 521.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company’s stock worth $165,000 after buying an additional 3,178 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in Revolution Medicines in the fourth quarter worth $173,000. Institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In other 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 transaction of $119,384.32. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jack Anders sold 1,864 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 115,006 shares of the company’s stock, valued at $4,489,834.24. This trade represents a 1.59 % decrease in their position. 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. Insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Down 2.0 %

Shares of Revolution Medicines stock opened at $37.35 on Friday. The business has a fifty day simple moving average of $40.32 and a 200-day simple moving average of $45.56. Revolution Medicines, Inc. has a fifty-two week low of $29.55 and a fifty-two week high of $62.40. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of -10.40 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). Analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of 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 reduced their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. HC Wainwright raised their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Guggenheim boosted their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus lowered their target price on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $66.31.

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.