Marshall Wace LLP Has $65.82 Million Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Marshall Wace LLP lifted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 41.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,504,801 shares of the company’s stock after purchasing an additional 439,802 shares during the quarter. Marshall Wace LLP’s holdings in Revolution Medicines were worth $65,820,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CIBC Asset Management Inc lifted its stake in Revolution Medicines by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock valued at $220,000 after buying an additional 270 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Revolution Medicines by 11.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock worth $186,000 after acquiring an additional 434 shares during the period. Amalgamated Bank lifted its position in Revolution Medicines by 8.3% in the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company’s stock valued at $250,000 after acquiring an additional 435 shares in the last quarter. Arizona State Retirement System boosted its stake in Revolution Medicines by 2.0% in the 4th quarter. Arizona State Retirement System now owns 33,905 shares of the company’s stock worth $1,483,000 after purchasing an additional 650 shares during the period. Finally, IFP Advisors Inc bought a new position in Revolution Medicines during the 4th quarter worth about $34,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $36.76 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The firm has a market capitalization of $6.83 billion, a PE ratio of -10.24 and a beta of 1.37. The company’s 50-day moving average is $37.88 and its 200-day moving average is $44.47.

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

Wall Street Analysts Forecast Growth

RVMD has been the topic of a number of research reports. Wedbush restated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. HC Wainwright upped their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Stifel Nicolaus lowered their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. UBS Group increased their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $59.00 target price on shares of Revolution Medicines in a research report on Tuesday, April 8th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $66.67.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 1,864 shares of the stock in a transaction dated 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 directly owns 115,006 shares of the company’s stock, valued at $4,489,834.24. This represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 sale, the chief operating officer now owns 153,533 shares of the company’s stock, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock valued at $650,406 in the last quarter. 8.00% of the stock is currently owned by insiders.

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.