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

Man Group plc lifted its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 25.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 321,673 shares of the company's stock after purchasing an additional 65,567 shares during the period. Man Group plc owned 0.19% of Revolution Medicines worth $14,070,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RVMD. CIBC Asset Management Inc boosted its position in Revolution Medicines by 5.7% during 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 period. Russell Investments Group Ltd. lifted 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 buying an additional 434 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Revolution Medicines by 8.3% during the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company's stock worth $250,000 after buying an additional 435 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Revolution Medicines by 5.0% during 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 period. Finally, Arizona State Retirement System grew 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 valued at $1,483,000 after buying an additional 650 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on RVMD shares. Oppenheimer boosted their price target on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Guggenheim decreased their price target on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wedbush reaffirmed an "outperform" rating and set a $67.00 target price on shares of Revolution Medicines in a report on Thursday, May 8th. Stifel Nicolaus reduced 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. Finally, HC Wainwright reissued a "buy" rating and set a $72.00 target price (down from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $67.08.

Revolution Medicines Trading Up 1.2%

Revolution Medicines stock traded up $0.47 during midday trading on Friday, reaching $39.27. The company's stock had a trading volume of 169,360 shares, compared to its average volume of 1,488,049. The stock has a market cap of $7.31 billion, a PE ratio of -10.92 and a beta of 1.11. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40. The business has a 50-day moving average price of $37.52 and a 200-day moving average price of $42.78.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter in the prior year, the business posted ($0.70) EPS. As a group, research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of the business's stock in a transaction 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 in the company, valued at $5,993,928.32. The trade was a 1.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the company's 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 completion of the transaction, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock valued at $650,406 in the last quarter. Insiders own 8.20% of the company's stock.

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.