Virtu Financial LLC Purchases New Shares in Revolution Medicines, Inc. (NASDAQ:RVMD)

Virtu Financial LLC acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, Holdings Channel reports. The firm acquired 6,224 shares of the company’s stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of RVMD. IFP Advisors Inc acquired a new position in shares of Revolution Medicines in the fourth quarter valued at about $34,000. Quarry LP bought a new stake in Revolution Medicines in the 3rd quarter valued at about $82,000. Farther Finance Advisors LLC grew its position in shares of Revolution Medicines by 368.3% during the 4th 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. increased its holdings in shares of Revolution Medicines by 521.8% during the fourth 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 acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $173,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RVMD. Wedbush reissued an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. 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. 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 report on Thursday, February 27th. Finally, UBS Group boosted their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $66.31.

Insider Buying and Selling at Revolution Medicines

In related 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 in the company, valued at $4,489,834.24. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,660 shares of company stock worth $650,406. 8.00% of the stock is currently owned by insiders.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $38.10 on Friday. Revolution Medicines, Inc. has a one year low of $29.55 and a one year high of $62.40. The company has a market cap of $7.08 billion, a price-to-earnings ratio of -10.61 and a beta of 1.46. The firm has a 50 day simple moving average of $40.38 and a 200 day simple moving average of $45.59.

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

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.