Man Group plc Has $14.07 Million Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Man Group plc lifted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 25.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 321,673 shares of the company's stock after purchasing an additional 65,567 shares during the period. Man Group plc owned approximately 0.19% of Revolution Medicines worth $14,070,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RVMD. IFP Advisors Inc acquired a new position in Revolution Medicines during the 4th quarter worth $34,000. Sterling Capital Management LLC raised its position in shares of Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after acquiring an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after acquiring 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 valued at $104,000. Finally, Daiwa Securities Group Inc. lifted its stake 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 valued at $165,000 after acquiring an additional 3,178 shares during the period. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Stock Performance

NASDAQ:RVMD traded up $0.54 during trading hours on Tuesday, hitting $40.47. The stock had a trading volume of 1,044,322 shares, compared to its average volume of 1,491,524. The business's 50 day moving average is $37.53 and its 200-day moving average is $42.93. The company has a market cap of $7.54 billion, a price-to-earnings ratio of -11.27 and a beta of 1.11. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter last year, the company posted ($0.70) EPS. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RVMD has been the subject of a number of research reports. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 price objective on shares of Revolution Medicines in a research report on Thursday, May 8th. Oppenheimer raised their target price on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Stifel Nicolaus lowered their price target 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. Guggenheim dropped their price target on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, May 8th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Revolution Medicines presently has an average rating of "Buy" and a consensus price target of $67.08.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 3,058 shares of the company'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 $119,384.32. Following the completion of the transaction, the chief operating officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jack Anders sold 1,864 shares of the stock in a transaction dated 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 trade represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock worth $650,406 over the last ninety days. 8.20% of the stock is currently owned by corporate insiders.

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.