Revolution Medicines, Inc. (NASDAQ:RVMD) Stock Position Increased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 124.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 650,000 shares of the company's stock after purchasing an additional 360,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.39% of Revolution Medicines worth $28,431,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc acquired a new position in shares of Revolution Medicines during the 4th quarter valued at $34,000. Sterling Capital Management LLC boosted its position in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after buying an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after acquiring an additional 1,613 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Revolution Medicines by 521.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock worth $165,000 after acquiring an additional 3,178 shares during the last quarter. Finally, Avanza Fonder AB acquired a new position in shares of Revolution Medicines in the fourth quarter worth about $173,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Insider Buying and Selling

In other Revolution Medicines news, CFO Jack Anders sold 1,864 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 $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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction on 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 directly owns 153,533 shares in the company, valued at $5,993,928.32. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,660 shares of company stock valued at $650,406. Insiders own 8.00% of the company's stock.

Revolution Medicines Stock Up 0.3 %

Shares of RVMD traded up $0.13 during mid-day trading on Thursday, hitting $40.51. The stock had a trading volume of 473,324 shares, compared to its average volume of 1,444,519. The company has a market cap of $7.53 billion, a PE ratio of -11.27 and a beta of 1.37. The company's fifty day simple moving average is $37.36 and its two-hundred day simple moving average is $43.90. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Equities analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $59.00 price objective on shares of Revolution Medicines in a research note on Tuesday, April 8th. HC Wainwright raised their price objective on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Wedbush restated an "outperform" rating and set a $67.00 price objective on shares of Revolution Medicines in a research note on Monday. Stifel Nicolaus lowered their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, UBS Group raised their price objective on Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $66.67.

Revolution Medicines Company 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.