KLP Kapitalforvaltning AS Makes New $1.03 Million Investment in Revolution Medicines, Inc. (NASDAQ:RVMD)

KLP Kapitalforvaltning AS bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, HoldingsChannel reports. The firm bought 23,504 shares of the company’s stock, valued at approximately $1,028,000.

Other institutional investors and hedge funds have also modified their holdings of the company. IFP Advisors Inc acquired a new stake in Revolution Medicines in the 4th quarter worth about $34,000. Quarry LP acquired a new stake in shares of Revolution Medicines in the third quarter worth approximately $82,000. 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 purchasing an additional 1,613 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Revolution Medicines by 521.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company’s stock valued at $165,000 after purchasing an additional 3,178 shares during the last quarter. Finally, Avanza Fonder AB purchased a new position in Revolution Medicines in the 4th quarter valued at $173,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Needham & Company LLC decreased their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. HC Wainwright upped their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Finally, UBS Group lifted their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $66.31.

Insiders Place Their Bets

In other news, CFO Jack Anders sold 1,864 shares of the firm’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 approximately $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock worth $650,406 over the last ninety days. Corporate insiders own 8.00% of the company’s stock.

Revolution Medicines Trading Down 2.0 %

Shares of RVMD opened at $37.35 on Monday. The company’s 50-day moving average price is $40.32 and its 200 day moving average price is $45.61. Revolution Medicines, Inc. has a 12-month low of $29.55 and a 12-month high of $62.40. The firm has a market cap of $6.94 billion, a P/E ratio of -10.40 and a beta of 1.46.

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

About Revolution Medicines

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.