Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 674.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 208,401 shares of the company’s stock after purchasing an additional 181,500 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.12% of Revolution Medicines worth $9,115,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. CIBC Asset Management Inc boosted its stake in shares of Revolution Medicines by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock valued at $220,000 after purchasing an additional 270 shares during the period. Captrust Financial Advisors lifted its stake in Revolution Medicines by 4.1% in the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock worth $384,000 after acquiring an additional 337 shares during the last quarter. KBC Group NV lifted its stake in Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after acquiring an additional 368 shares during the last quarter. Amalgamated Bank lifted its stake in Revolution Medicines by 8.3% in the fourth quarter. Amalgamated Bank now owns 5,707 shares of the company’s stock worth $250,000 after acquiring an additional 435 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Revolution Medicines by 2.0% in the fourth quarter. Arizona State Retirement System now owns 33,905 shares of the company’s stock worth $1,483,000 after acquiring an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $39.12 on Friday. The firm’s fifty day simple moving average is $41.08 and its 200-day simple moving average is $45.84. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of -10.90 and a beta of 1.46. Revolution Medicines, Inc. has a 12 month low of $29.55 and a 12 month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its 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). Analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. HC Wainwright lifted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Stifel Nicolaus decreased their price target on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Guggenheim lifted their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, February 27th. Finally, Needham & Company LLC decreased their price target on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $66.31.

Insider Activity

In other news, insider Mark A. Goldsmith sold 11,714 shares of Revolution Medicines stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $531,815.60. Following the transaction, the insider now directly owns 325,056 shares of the company’s stock, valued at $14,757,542.40. The trade was a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jack Anders sold 2,635 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the completion of the transaction, the chief financial officer now directly owns 96,470 shares in the company, valued at $4,379,738. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,678 shares of company stock valued at $847,981 in the last ninety days. 8.00% of the stock is currently owned by company 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.