Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. boosted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 124.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 650,000 shares of the company’s stock after buying an additional 360,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.39% of Revolution Medicines worth $28,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc purchased a new position in Revolution Medicines in the fourth quarter valued at $34,000. Sterling Capital Management LLC grew its position 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 valued at $86,000 after acquiring an additional 1,672 shares during the period. Farther Finance Advisors LLC increased its stake in shares of 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 purchasing an additional 1,613 shares in the last quarter. 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 worth $165,000 after purchasing an additional 3,178 shares during the period. Finally, Avanza Fonder AB purchased a new position in Revolution Medicines during the fourth quarter worth approximately $173,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $38.77 on Friday. The company has a market cap of $7.21 billion, a P/E ratio of -10.80 and a beta of 1.37. The firm has a fifty day moving average of $37.43 and a two-hundred day moving average of $44.08. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data 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). As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Activity

In other news, CFO Jack Anders sold 1,864 shares of the business’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 $72,770.56. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark A. Goldsmith sold 11,738 shares of the business’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 completion of the transaction, the insider now owns 441,564 shares of the company’s stock, valued at $17,238,658.56. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock worth $650,406 over the last 90 days. 8.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RVMD has been the subject of several recent analyst reports. UBS Group boosted their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Stifel Nicolaus cut their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $59.00 price target on shares of Revolution Medicines in a research note on Tuesday, April 8th. Wedbush reiterated an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Finally, HC Wainwright increased their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $66.67.

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.