Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 42.5% during the 4th quarter, according to the company in its most recent 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 quarter. ProShare Advisors LLC's holdings in Revolution Medicines were worth $2,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its position in Revolution Medicines by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock valued at $220,000 after buying an additional 270 shares during the period. Russell Investments Group Ltd. increased 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 acquiring an additional 434 shares during the period. Amalgamated Bank increased 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 acquiring an additional 435 shares during the period. CANADA LIFE ASSURANCE Co grew its position in 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 period. Finally, Arizona State Retirement System lifted its holdings in shares of Revolution Medicines by 2.0% in the fourth 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 in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Jack Anders sold 1,864 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 $72,770.56. Following the completion of the sale, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. This represents a 1.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value 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. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,660 shares of company stock valued at $650,406. Company insiders own 8.20% of the company's stock.

Wall Street Analyst Weigh In

RVMD has been the topic of a number of research analyst reports. 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 report on Thursday, May 8th. Wedbush restated an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a research report 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 report on Wednesday, May 14th. Oppenheimer boosted their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $57.00 target price on shares of Revolution Medicines in a research report on Thursday, May 8th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $67.08.

Revolution Medicines Price Performance

Revolution Medicines stock traded up $0.97 during mid-day trading on Friday, hitting $39.77. The company's stock had a trading volume of 1,398,581 shares, compared to its average volume of 1,491,420. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of -11.08 and a beta of 1.11. The business has a 50 day moving average price of $37.52 and a 200-day moving average price of $42.78. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its 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 last year, the company earned ($0.70) EPS. On average, equities research analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

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.