Rock Springs Capital Management LP Acquires 203,312 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Rock Springs Capital Management LP grew its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 20.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,213,257 shares of the company’s stock after buying an additional 203,312 shares during the quarter. Revolution Medicines comprises approximately 2.0% of Rock Springs Capital Management LP’s portfolio, making the stock its 15th largest holding. Rock Springs Capital Management LP’s holdings in Revolution Medicines were worth $53,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in Revolution Medicines by 672.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,479 shares of the company’s stock worth $808,000 after acquiring an additional 16,087 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Revolution Medicines by 16.1% in the fourth quarter. MetLife Investment Management LLC now owns 100,329 shares of the company’s stock valued at $4,388,000 after buying an additional 13,918 shares during the period. Nan Fung Group Holdings Ltd lifted its position in Revolution Medicines by 163.7% in the 4th quarter. Nan Fung Group Holdings Ltd now owns 19,253 shares of the company’s stock valued at $842,000 after acquiring an additional 11,953 shares in the last quarter. Altium Capital Management LLC bought a new stake in shares of Revolution Medicines in the fourth quarter valued at about $2,624,000. Finally, CANADA LIFE ASSURANCE Co raised its position in Revolution Medicines by 5.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company’s stock valued at $498,000 after buying an additional 545 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $36.76 on Monday. The company has a 50 day simple moving average of $37.79 and a two-hundred day simple moving average of $44.39. The company has a market capitalization of $6.83 billion, a PE ratio of -10.24 and a beta of 1.37. 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 released its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). Research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on RVMD shares. Wedbush reiterated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $59.00 price target on shares of Revolution Medicines in a research report on Tuesday, April 8th. UBS Group raised their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright increased 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. Finally, Stifel Nicolaus lowered their price target on 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $66.67.

Insider Buying and Selling

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines 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 $458,251.52. Following the transaction, the insider now directly owns 441,564 shares in the company, valued at approximately $17,238,658.56. This represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock worth $650,406 in the last quarter. Insiders own 8.00% of the company’s stock.

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.