Man Group plc Buys 65,567 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Man Group plc increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 25.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 321,673 shares of the company’s stock after purchasing an additional 65,567 shares during the quarter. Man Group plc owned about 0.19% of Revolution Medicines worth $14,070,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RVMD. Boxer Capital Management LLC bought a new stake in shares of Revolution Medicines during the fourth quarter valued at approximately $187,184,000. Janus Henderson Group PLC grew its stake in shares of Revolution Medicines by 54.5% during the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company’s stock valued at $414,777,000 after purchasing an additional 3,346,755 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock valued at $747,799,000 after purchasing an additional 2,185,082 shares during the last quarter. Farallon Capital Management LLC grew its stake in shares of Revolution Medicines by 17.1% during the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock valued at $579,498,000 after purchasing an additional 1,931,000 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Revolution Medicines during the fourth quarter valued at approximately $76,197,000. 94.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 3,058 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 153,533 shares in the company, valued at $5,993,928.32. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the firm’s 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 in the company, valued at approximately $4,489,834.24. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,660 shares of company stock worth $650,406. Company insiders own 8.20% of the company’s stock.

Revolution Medicines Stock Performance

RVMD opened at $39.54 on Friday. The firm’s fifty day moving average is $37.49 and its two-hundred day moving average is $43.12. The firm has a market cap of $7.37 billion, a PE ratio of -11.01 and a beta of 1.11. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, May 8th. Guggenheim cut their price objective on shares of Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. HC Wainwright restated a “buy” rating and issued a $72.00 price objective (down from $73.00) on shares of Revolution Medicines in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. Finally, Oppenheimer increased their price objective on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Revolution Medicines currently has a consensus rating of “Buy” and an average target price of $67.08.

Revolution Medicines Company 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.