Ameriprise Financial Inc. Acquires 141,426 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Ameriprise Financial Inc. grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,626,848 shares of the company’s stock after acquiring an additional 141,426 shares during the period. Ameriprise Financial Inc. owned about 0.97% of Revolution Medicines worth $71,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc grew its holdings in Revolution Medicines by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock valued at $220,000 after purchasing an additional 270 shares during the period. Russell Investments Group Ltd. lifted its holdings in Revolution Medicines by 11.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock valued at $186,000 after purchasing an additional 434 shares in the last quarter. Amalgamated Bank lifted its holdings in Revolution Medicines by 8.3% during the fourth quarter. Amalgamated Bank now owns 5,707 shares of the company’s stock valued at $250,000 after purchasing an additional 435 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Revolution Medicines by 5.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company’s stock worth $498,000 after purchasing an additional 545 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Revolution Medicines by 2.0% in the fourth quarter. Arizona State Retirement System now owns 33,905 shares of the company’s stock worth $1,483,000 after purchasing an additional 650 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RVMD has been the topic of several research analyst reports. Guggenheim lowered their price objective on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a report on Thursday. HC Wainwright lifted their price objective on shares of 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 restated a “buy” rating and set a $57.00 target price on shares of Revolution Medicines in a research report on Thursday. Finally, Stifel Nicolaus reduced their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Revolution Medicines has a consensus rating of “Buy” and an average price target of $67.17.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $40.58 on Friday. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of -11.30 and a beta of 1.11. The stock has a 50 day moving average price of $37.36 and a 200-day moving average price of $43.45. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same period in the prior year, the firm earned ($0.70) EPS. Sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the transaction, the chief operating officer now owns 153,533 shares of the company’s stock, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,660 shares of company stock worth $650,406. Insiders own 8.00% of the company’s stock.

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.