Victory Capital Management Inc. Acquires 216,010 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Victory Capital Management Inc. raised its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 558,369 shares of the company's stock after buying an additional 216,010 shares during the period. Victory Capital Management Inc. owned 0.51% of Revolution Medicines worth $16,014,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Revolution Medicines by 2.7% in the third quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company's stock valued at $292,646,000 after buying an additional 282,786 shares during the last quarter. Vanguard Group Inc. raised its position in Revolution Medicines by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company's stock worth $266,935,000 after purchasing an additional 303,088 shares during the last quarter. Walleye Capital LLC acquired a new position in Revolution Medicines during the 3rd quarter worth $2,644,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Revolution Medicines by 45.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,405 shares of the company's stock valued at $2,306,000 after buying an additional 25,160 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Revolution Medicines by 602.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 20,691 shares of the company's stock valued at $573,000 after buying an additional 17,746 shares during the period. 94.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RVMD. Wedbush upped their target price on shares of Revolution Medicines from $42.00 to $46.00 and gave the company an "outperform" rating in a research report on Thursday. Needham & Company LLC restated a "buy" rating and issued a $46.00 price objective on shares of Revolution Medicines in a report on Thursday. Oppenheimer lifted their target price on shares of Revolution Medicines from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, April 12th. Raymond James raised Revolution Medicines from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $36.00 to $48.00 in a research note on Wednesday, April 10th. Finally, Piper Sandler assumed coverage on Revolution Medicines in a report on Monday, March 11th. They set an "overweight" rating and a $43.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $41.60.

Revolution Medicines Price Performance

RVMD traded down $0.20 during trading on Friday, reaching $37.25. The company had a trading volume of 1,013,329 shares, compared to its average volume of 1,183,267. The company has a market cap of $6.15 billion, a P/E ratio of -9.93 and a beta of 1.46. Revolution Medicines, Inc. has a 12 month low of $15.44 and a 12 month high of $40.21. The business's fifty day moving average price is $34.06 and its 200 day moving average price is $28.71.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, topping analysts' consensus estimates of ($0.75) by $0.05. During the same quarter last year, the business earned ($0.72) earnings per share. The company's quarterly revenue was down 100.0% on a year-over-year basis. As a group, sell-side analysts predict that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 2,123 shares of the company's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $67,044.34. Following the completion of the transaction, the insider now owns 270,909 shares of the company's stock, valued at approximately $8,555,306.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Sushil Patel sold 2,155 shares of the company's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total transaction of $79,735.00. Following the sale, the director now owns 15,700 shares in the company, valued at approximately $580,900. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Michael Kelsey sold 2,123 shares of the firm's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $67,044.34. Following the completion of the transaction, the insider now directly owns 270,909 shares of the company's stock, valued at $8,555,306.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,705 shares of company stock worth $1,031,049. 8.50% of the stock is owned by corporate insiders.

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.