Tower Research Capital LLC TRC Has $808,000 Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Tower Research Capital LLC TRC increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 672.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,479 shares of the company's stock after purchasing an additional 16,087 shares during the period. Tower Research Capital LLC TRC's holdings in Revolution Medicines were worth $808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $34,000. Sterling Capital Management LLC boosted its position in 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 acquiring an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock valued at $90,000 after purchasing an additional 1,613 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Revolution Medicines by 521.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock worth $165,000 after purchasing an additional 3,178 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Revolution Medicines in the fourth quarter worth $173,000. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Performance

Shares of RVMD stock traded up $0.39 during midday trading on Thursday, hitting $40.77. 932,663 shares of the company were exchanged, compared to its average volume of 1,446,876. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40. The firm has a market capitalization of $7.58 billion, a P/E ratio of -11.40 and a beta of 1.37. The firm's 50 day moving average price is $37.36 and its two-hundred day moving average price is $43.90.

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

Insider Activity

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction dated 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 sale, the insider now owns 441,564 shares in the company, valued at $17,238,658.56. The trade was a 2.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Margaret A. Horn sold 3,058 shares of the stock in a transaction that occurred 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 owns 153,533 shares in the company, valued at approximately $5,993,928.32. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,660 shares of company stock valued at $650,406. 8.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

RVMD has been the topic of several recent research reports. 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 note on Tuesday, April 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $59.00 target price on shares of Revolution Medicines in a research report on Tuesday, April 8th. HC Wainwright upped their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Wedbush restated an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Monday. Finally, UBS Group upped their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock 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, 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.