Harbor Capital Advisors Inc. Acquires Shares of 35,417 Revolution Medicines, Inc. (NASDAQ:RVMD)

Harbor Capital Advisors Inc. purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 35,417 shares of the company's stock, valued at approximately $1,252,000.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its holdings in Revolution Medicines by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock worth $220,000 after purchasing an additional 270 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Revolution Medicines by 11.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock valued at $186,000 after acquiring an additional 434 shares during the period. Amalgamated Bank boosted its stake in Revolution Medicines by 8.3% during the fourth quarter. Amalgamated Bank now owns 5,707 shares of the company's stock valued at $250,000 after buying an additional 435 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Revolution Medicines by 5.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock worth $498,000 after buying an additional 545 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Revolution Medicines by 2.0% during the 4th 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 last quarter. 94.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RVMD shares. Needham & Company LLC reiterated a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a research report on Thursday, May 8th. Wedbush restated an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, May 8th. Stifel Nicolaus cut their price objective 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. Guggenheim reduced their price target on Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $67.08.

Insider Activity

In other news, insider Mark A. Goldsmith sold 11,738 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 $458,251.52. Following the sale, the insider now directly owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. The trade was a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the transaction, the chief financial officer now owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,660 shares of company stock valued at $650,406. 8.20% of the stock is currently owned by company insiders.

Revolution Medicines Trading Down 1.3%

RVMD traded down $0.52 on Friday, hitting $40.59. 1,086,692 shares of the company's stock were exchanged, compared to its average volume of 1,528,862. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of -11.31 and a beta of 1.10. 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 50-day moving average price of $38.66 and a 200-day moving average price of $40.96.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter in the prior year, the firm posted ($0.70) earnings per share. On average, equities analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Revolution Medicines Company 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.