ProShare Advisors LLC Increases Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

ProShare Advisors LLC grew its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 42.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,102 shares of the company's stock after acquiring an additional 16,438 shares during the period. ProShare Advisors LLC's holdings in Revolution Medicines were worth $2,410,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Boxer Capital Management LLC purchased a new position in Revolution Medicines in the 4th quarter worth approximately $187,184,000. Janus Henderson Group PLC raised its position in shares of Revolution Medicines by 54.5% during the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock valued at $414,777,000 after buying an additional 3,346,755 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Revolution Medicines by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock worth $747,799,000 after buying an additional 2,185,082 shares in the last quarter. Farallon Capital Management LLC boosted its position in shares of Revolution Medicines by 17.1% during the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock worth $579,498,000 after acquiring an additional 1,931,000 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Revolution Medicines during the fourth quarter worth $76,197,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of the 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 of the company's stock, valued at approximately $5,993,928.32. This trade represents a 1.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 1,864 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,660 shares of company stock worth $650,406. 8.20% of the stock is currently owned by company insiders.

Revolution Medicines Price Performance

Shares of RVMD traded up $0.97 during midday trading on Monday, hitting $39.77. The stock had a trading volume of 1,398,581 shares, compared to its average volume of 1,494,173. The stock's 50 day moving average is $37.55 and its 200 day moving average is $42.43. The firm has a market cap of $7.41 billion, a PE ratio of -11.08 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.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer boosted their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and issued a $72.00 target price (down from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Guggenheim dropped their price target on Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $57.00 price objective on shares of Revolution Medicines in a research note on Thursday, May 8th. Finally, Stifel Nicolaus decreased their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $67.08.

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.