Vanguard Group Inc. Boosts Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Vanguard Group Inc. increased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 14.7% during the 4th quarter, Holdings Channel reports. The firm owned 17,096,455 shares of the company’s stock after buying an additional 2,185,082 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Revolution Medicines worth $747,799,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RVMD. KLP Kapitalforvaltning AS bought a new stake in shares of Revolution Medicines in the 4th quarter worth approximately $1,028,000. American Century Companies Inc. lifted its stake in Revolution Medicines by 11.1% in the fourth quarter. American Century Companies Inc. now owns 641,646 shares of the company’s stock worth $28,066,000 after acquiring an additional 64,238 shares during the period. Quantbot Technologies LP bought a new stake in Revolution Medicines in the fourth quarter valued at $186,000. Virtu Financial LLC purchased a new position in Revolution Medicines during the 4th quarter valued at $272,000. Finally, Teacher Retirement System of Texas raised its holdings in Revolution Medicines by 19.6% in the 4th quarter. Teacher Retirement System of Texas now owns 34,632 shares of the company’s stock worth $1,515,000 after purchasing an additional 5,667 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Guggenheim lifted their price objective on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. HC Wainwright increased their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Needham & Company LLC dropped their price target on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, UBS Group increased their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $66.31.

Revolution Medicines Price Performance

RVMD opened at $37.35 on Friday. The firm has a market cap of $6.94 billion, a PE ratio of -10.40 and a beta of 1.46. The stock has a 50-day moving average price of $40.32 and a 200-day moving average price of $45.58. Revolution Medicines, Inc. has a 1 year low of $29.55 and a 1 year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Buying and Selling

In other news, CFO Jack Anders sold 1,864 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were 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 of the company’s stock, valued at $4,489,834.24. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark A. Goldsmith sold 11,738 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 $458,251.52. Following the completion of the sale, the insider now owns 441,564 shares of the company’s stock, valued at $17,238,658.56. This represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock worth $650,406 in the last three months. Insiders own 8.00% of the company’s stock.

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.