WCM Investment Management LLC Takes Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

WCM Investment Management LLC acquired a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 157,477 shares of the company’s stock, valued at approximately $6,798,000.

Several other institutional investors have also recently made changes to their positions in RVMD. GAMMA Investing LLC lifted its holdings in Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after purchasing an additional 222 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Revolution Medicines by 4.1% during the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after buying an additional 337 shares during the last quarter. KBC Group NV lifted its holdings in shares of Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Revolution Medicines by 22.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,041 shares of the company’s stock worth $267,000 after acquiring an additional 1,115 shares during the last quarter. Finally, Quarry LP purchased a new position in Revolution Medicines during the third quarter valued at $82,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In other news, CFO Jack Anders sold 2,635 shares of Revolution Medicines stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $119,629.00. Following the completion of the sale, the chief financial officer now directly owns 96,470 shares in the company, valued at approximately $4,379,738. This trade represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Margaret A. Horn sold 4,329 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $196,536.60. Following the sale, the chief operating officer now directly owns 127,991 shares of the company’s stock, valued at $5,810,791.40. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,678 shares of company stock valued at $847,981. Company insiders own 8.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Oppenheimer boosted their price target on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Wedbush reiterated an “outperform” rating and issued a $70.00 target price on shares of Revolution Medicines in a research report on Monday, December 2nd. UBS Group raised 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. HC Wainwright upped their price objective on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a report on Tuesday, December 3rd. Eleven research 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, Revolution Medicines has a consensus rating of “Buy” and an average target price of $66.25.

Revolution Medicines Stock Down 3.2 %

NASDAQ RVMD opened at $42.19 on Monday. Revolution Medicines, Inc. has a 52 week low of $28.43 and a 52 week high of $62.40. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of -11.75 and a beta of 1.45. The company has a fifty day moving average of $43.67 and a two-hundred day moving average of $46.51.

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.