Xponance Inc. Has $530,000 Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Xponance Inc. lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 21.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,127 shares of the company’s stock after buying an additional 2,140 shares during the period. Xponance Inc.’s holdings in Revolution Medicines were worth $530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Revolution Medicines during the third quarter worth $1,220,000. Intech Investment Management LLC bought a new position in Revolution Medicines during the third quarter worth about $1,709,000. Charles Schwab Investment Management Inc. increased its position in Revolution Medicines by 58.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after buying an additional 653,433 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Revolution Medicines in the third quarter valued at approximately $3,267,000. Finally, Citigroup Inc. lifted its position in shares of Revolution Medicines by 29.5% in the third quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock valued at $5,348,000 after buying an additional 26,871 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Down 2.3 %

Shares of RVMD stock opened at $38.45 on Wednesday. The stock has a market cap of $7.15 billion, a P/E ratio of -10.71 and a beta of 1.46. Revolution Medicines, Inc. has a 1 year low of $29.55 and a 1 year high of $62.40. The stock has a 50 day simple moving average of $40.46 and a 200 day simple moving average of $45.70.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data 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 forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group increased their price target on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC dropped their price objective on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Guggenheim upped their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus cut their price objective on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $66.31.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 3,058 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 $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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jack Anders sold 1,864 shares of the 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 approximately $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 over the last 90 days. 8.00% of the stock is owned by insiders.

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.