Artia Global Partners LP Grows Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Artia Global Partners LP increased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 196.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,190 shares of the company's stock after acquiring an additional 188,305 shares during the period. Revolution Medicines comprises approximately 4.4% of Artia Global Partners LP's portfolio, making the stock its 9th biggest holding. Artia Global Partners LP owned about 0.17% of Revolution Medicines worth $12,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RVMD. CIBC Asset Management Inc boosted its holdings in shares of Revolution Medicines by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock worth $220,000 after buying an additional 270 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Revolution Medicines by 11.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock worth $186,000 after purchasing an additional 434 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Revolution Medicines by 8.3% in the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company's stock worth $250,000 after purchasing an additional 435 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Revolution Medicines by 5.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock valued at $498,000 after purchasing an additional 545 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Revolution Medicines by 2.0% during the fourth quarter. Arizona State Retirement System now owns 33,905 shares of the company's stock valued at $1,483,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 94.34% of the company's stock.

Insider Activity

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the sale, the insider now directly owns 441,564 shares of the company's stock, valued at $17,238,658.56. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jack Anders sold 1,864 shares of the business'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 owns 115,006 shares of the company's stock, valued at $4,489,834.24. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,660 shares of company stock worth $650,406. 8.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RVMD shares. Wedbush reaffirmed an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a research report on Monday. Stifel Nicolaus dropped their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. UBS Group raised their price objective 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. HC Wainwright boosted their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $59.00 price target on shares of Revolution Medicines in a report on Tuesday, April 8th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $66.67.

Revolution Medicines Stock Up 0.6 %

Shares of RVMD stock traded up $0.26 during trading on Thursday, hitting $40.64. The company had a trading volume of 1,555,469 shares, compared to its average volume of 1,448,703. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of -11.32 and a beta of 1.37. The stock's 50-day moving average is $37.36 and its two-hundred day moving average is $43.90.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted 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). On average, research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

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.