Legato Capital Management LLC Acquires 3,167 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Legato Capital Management LLC increased its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 42.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,713 shares of the company’s stock after purchasing an additional 3,167 shares during the quarter. Legato Capital Management LLC’s holdings in Revolution Medicines were worth $469,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of RVMD. GAMMA Investing LLC increased its position in Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after acquiring an additional 222 shares during the period. Quarry LP bought a new position in Revolution Medicines during the third quarter worth about $82,000. Values First Advisors Inc. bought a new position in Revolution Medicines during the third quarter worth about $93,000. KBC Group NV increased its position in Revolution Medicines by 12.9% during 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 period. Finally, Avanza Fonder AB bought a new position in Revolution Medicines during the fourth quarter worth about $173,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $40.67 on Friday. The firm’s 50 day simple moving average is $43.09 and its 200 day simple moving average is $46.38. Revolution Medicines, Inc. has a one year low of $28.43 and a one year high of $62.40. The company has a market cap of $6.84 billion, a PE ratio of -11.33 and a beta of 1.45.

Insider Buying and Selling

In related news, CFO Jack Anders sold 2,635 shares of Revolution Medicines stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 96,470 shares in the company, valued at $4,379,738. This trade represents a 2.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Margaret A. Horn sold 4,329 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $196,536.60. Following the sale, the chief operating officer now owns 127,991 shares in the company, valued at approximately $5,810,791.40. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,678 shares of company stock worth $847,981 in the last ninety days. Company insiders own 8.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RVMD. JPMorgan Chase & Co. increased 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. Piper Sandler increased their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wedbush reiterated an “outperform” rating and set a $70.00 price objective on shares of Revolution Medicines in a research note on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and set a $68.00 price objective on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Finally, UBS Group increased their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $66.25.

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.