Ameriprise Financial Inc. Increases Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Ameriprise Financial Inc. boosted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 9.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,626,848 shares of the company’s stock after acquiring an additional 141,426 shares during the quarter. Ameriprise Financial Inc.’s holdings in Revolution Medicines were worth $71,158,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RVMD. IFP Advisors Inc bought a new stake in shares of Revolution Medicines in the 4th quarter valued at about $34,000. Sterling Capital Management LLC boosted its stake in Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after acquiring an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after purchasing an additional 1,613 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Revolution Medicines during the fourth quarter worth $104,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Revolution Medicines by 521.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company’s stock worth $165,000 after purchasing an additional 3,178 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 3,058 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the transaction, the chief operating officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,660 shares of company stock valued at $650,406. Corporate insiders own 8.00% of the company’s stock.

Analysts Set New Price Targets

RVMD has been the topic of several research analyst reports. HC Wainwright boosted their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Stifel Nicolaus decreased their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Wedbush reissued an “outperform” rating and set a $67.00 target price on shares of Revolution Medicines in a research report on Thursday. Oppenheimer raised their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Guggenheim dropped their price objective on shares of Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $67.17.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $40.58 on Friday. The firm has a market capitalization of $7.56 billion, a P/E ratio of -11.30 and a beta of 1.11. The stock has a 50-day simple moving average of $37.36 and a two-hundred day simple moving average of $43.45. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same quarter in the prior year, the business earned ($0.70) earnings per share. As a group, analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

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.