Nuveen Asset Management LLC Buys 14,391 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Nuveen Asset Management LLC boosted its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 473,728 shares of the company's stock after acquiring an additional 14,391 shares during the quarter. Nuveen Asset Management LLC owned 0.28% of Revolution Medicines worth $20,721,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in Revolution Medicines by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock valued at $220,000 after acquiring an additional 270 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Revolution Medicines by 11.4% during the fourth 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 grew its stake in shares of Revolution Medicines by 8.3% during the fourth quarter. Amalgamated Bank now owns 5,707 shares of the company's stock worth $250,000 after buying an additional 435 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Revolution Medicines by 5.0% during the fourth 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 grew its stake in shares of Revolution Medicines by 2.0% during the fourth quarter. Arizona State Retirement System now owns 33,905 shares of the company's stock worth $1,483,000 after buying an additional 650 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

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 shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jack Anders sold 1,864 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 $72,770.56. Following the completion of the sale, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock worth $650,406 over the last quarter. Company insiders own 8.20% of the company's stock.

Revolution Medicines Trading Up 2.7%

RVMD stock traded up $1.00 during midday trading on Thursday, hitting $38.73. The stock had a trading volume of 437,555 shares, compared to its average volume of 1,621,122. The firm has a market cap of $7.21 billion, a P/E ratio of -10.80 and a beta of 1.11. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The business has a fifty day moving average price of $37.53 and a two-hundred day moving average price of $42.22.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released 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 last year, the business posted ($0.70) EPS. On average, equities analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RVMD. Needham & Company LLC reaffirmed a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a research note on Thursday, May 8th. Wedbush reiterated an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a report on Thursday, May 8th. Oppenheimer lifted their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and set a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Finally, Stifel Nicolaus cut their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Revolution Medicines has an average rating of "Buy" and a consensus target price of $67.08.

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.