Wingate Wealth Advisors Inc. Buys New Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Wingate Wealth Advisors Inc. purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,000 shares of the company’s stock, valued at approximately $437,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RVMD. Wilmington Savings Fund Society FSB acquired a new position in Revolution Medicines in the 3rd quarter worth about $801,000. Citigroup Inc. boosted its holdings in shares of Revolution Medicines by 29.5% during the 3rd quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock worth $5,348,000 after buying an additional 26,871 shares during the period. State Street Corp grew its position in shares of Revolution Medicines by 4.1% in the third quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after purchasing an additional 208,516 shares during the last quarter. Barclays PLC increased its position in Revolution Medicines by 187.1% in the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after buying an additional 192,021 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Revolution Medicines by 58.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock valued at $79,957,000 after purchasing an additional 653,433 shares during the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Revolution Medicines

In other news, Director Thilo Schroeder bought 1,304,347 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were bought at an average cost of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the acquisition, the director now owns 2,096,612 shares in the company, valued at approximately $96,444,152. This trade represents a 164.64 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jack Anders sold 2,635 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the completion of the transaction, the chief financial officer now directly owns 96,470 shares of the company’s stock, valued at approximately $4,379,738. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,678 shares of company stock valued at $847,981. 8.00% of the stock is currently owned by company insiders.

Revolution Medicines Price Performance

RVMD stock opened at $42.19 on Monday. Revolution Medicines, Inc. has a twelve month low of $28.43 and a twelve month high of $62.40. The business’s fifty day moving average is $43.67 and its 200-day moving average is $46.51.

Analyst Ratings Changes

A number of analysts have commented on RVMD shares. Piper Sandler raised their price objective on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Wedbush reissued an “outperform” rating and set a $70.00 price target on shares of Revolution Medicines in a report on Monday, December 2nd. JPMorgan Chase & Co. upped their price objective 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. UBS Group raised their price objective 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. Finally, Guggenheim boosted their target price on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $66.25.

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.