DAFNA Capital Management LLC Grows Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

DAFNA Capital Management LLC increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 21.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 631,176 shares of the company's stock after buying an additional 113,182 shares during the quarter. Revolution Medicines makes up 7.0% of DAFNA Capital Management LLC's holdings, making the stock its 3rd biggest position. DAFNA Capital Management LLC owned about 0.38% of Revolution Medicines worth $27,608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc acquired a new position in shares of Revolution Medicines in the fourth quarter valued at $34,000. Sterling Capital Management LLC boosted its holdings in shares of Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after buying an additional 1,672 shares during the period. Farther Finance Advisors LLC grew its stake in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock valued at $90,000 after buying an additional 1,613 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Revolution Medicines in the 4th quarter valued at about $104,000. Finally, Daiwa Securities Group Inc. raised its holdings in Revolution Medicines by 521.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock valued at $165,000 after acquiring an additional 3,178 shares during the period. 94.34% of the stock is owned by institutional investors.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,738 shares of the company's stock in a transaction 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 sale, the insider now directly owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. This represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines 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 transaction, the chief operating officer now directly owns 153,533 shares of the company's stock, valued at $5,993,928.32. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock worth $650,406 over the last ninety days. Insiders own 8.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RVMD. HC Wainwright upped their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $57.00 price objective on shares of Revolution Medicines in a report on Thursday. Wedbush reiterated an "outperform" rating and set a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday. Guggenheim reduced their target price on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Stifel Nicolaus lowered their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $67.17.

Revolution Medicines Price Performance

NASDAQ:RVMD traded down $1.33 during mid-day trading on Friday, reaching $40.58. The stock had a trading volume of 1,621,977 shares, compared to its average volume of 1,491,361. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The stock has a market capitalization of $7.56 billion, a PE ratio of -11.30 and a beta of 1.11. The stock has a 50-day simple moving average of $37.36 and a two-hundred day simple moving average of $43.45.

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

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.