Voloridge Investment Management LLC Buys 21,337 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Voloridge Investment Management LLC boosted its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 80.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,851 shares of the company's stock after acquiring an additional 21,337 shares during the period. Voloridge Investment Management LLC's holdings in Revolution Medicines were worth $2,093,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in Revolution Medicines by 187.1% in 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 during the period. China Universal Asset Management Co. Ltd. lifted its stake in Revolution Medicines by 92.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company's stock valued at $2,711,000 after buying an additional 29,853 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock valued at $84,467,000 after buying an additional 167,997 shares during the period. Russell Investments Group Ltd. lifted its stake in Revolution Medicines by 11.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock valued at $186,000 after buying an additional 434 shares during the period. Finally, WCM Investment Management LLC acquired a new position in Revolution Medicines in the fourth quarter valued at about $6,798,000. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Performance

Revolution Medicines stock traded up $0.90 during midday trading on Friday, reaching $39.98. The stock had a trading volume of 2,622,713 shares, compared to its average volume of 1,516,168. The firm's fifty day simple moving average is $37.56 and its 200-day simple moving average is $41.94. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The stock has a market capitalization of $7.45 billion, a P/E ratio of -11.14 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter last year, the business earned ($0.70) earnings per share. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the transaction, the chief operating officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark A. Goldsmith sold 11,738 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the transaction, the insider now owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,660 shares of company stock valued at $650,406. 8.20% of the stock is owned by insiders.

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.