Tang Capital Management LLC Acquires Shares of 100,000 Revolution Medicines, Inc. (NASDAQ:RVMD)

Tang Capital Management LLC acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 100,000 shares of the company's stock, valued at approximately $4,374,000. Tang Capital Management LLC owned about 0.06% of Revolution Medicines at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RVMD. Barclays PLC raised its holdings in Revolution Medicines by 187.1% during the third quarter. Barclays PLC now owns 294,664 shares of the company's stock valued at $13,362,000 after buying an additional 192,021 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $173,000. Sandy Cove Advisors LLC bought a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $1,837,000. KBC Group NV lifted its holdings in Revolution Medicines by 54.6% in the 4th quarter. KBC Group NV now owns 4,979 shares of the company's stock worth $218,000 after purchasing an additional 1,758 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Revolution Medicines by 92.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company's stock worth $2,711,000 after purchasing an additional 29,853 shares during the period. 94.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jack Anders sold 1,864 shares of the company'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 $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares of the company's stock, valued at $4,489,834.24. The trade was a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Margaret A. Horn sold 3,058 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 transaction 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 $5,993,928.32. This trade represents a 1.95% 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 over the last ninety days. 8.20% of the stock is owned by company insiders.

Revolution Medicines Trading Up 1.0%

RVMD stock traded up $0.41 during trading on Friday, reaching $39.21. 327,835 shares of the stock were exchanged, compared to its average volume of 1,594,244. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The company has a market capitalization of $7.30 billion, a P/E ratio of -10.92 and a beta of 1.11. The stock has a 50 day simple moving average of $37.52 and a 200-day simple moving average of $42.78.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced 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 period in the prior year, the company posted ($0.70) earnings per share. Equities analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Oppenheimer upped 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. Wedbush reaffirmed an "outperform" rating and issued 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 price objective (down from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Finally, Needham & Company LLC restated a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a research note on Thursday, May 8th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $67.08.

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.