American Century Companies Inc. Acquires 64,238 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

American Century Companies Inc. boosted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 641,646 shares of the company's stock after acquiring an additional 64,238 shares during the period. American Century Companies Inc. owned approximately 0.38% of Revolution Medicines worth $28,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new position in Revolution Medicines in the fourth quarter valued at approximately $34,000. Quarry LP acquired a new position in Revolution Medicines in the 3rd quarter worth $82,000. Farther Finance Advisors LLC increased its holdings in 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. raised its position in Revolution Medicines by 521.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock valued at $165,000 after buying an additional 3,178 shares during the last quarter. Finally, Avanza Fonder AB bought a new stake in Revolution Medicines in the 4th quarter valued at approximately $173,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,738 shares of the business'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 $458,251.52. Following the completion of the transaction, the insider now directly owns 441,564 shares in the company, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the company's 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 $72,770.56. Following the sale, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their position. 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. Corporate insiders own 8.00% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RVMD shares. Wedbush reaffirmed an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, February 27th. Needham & Company LLC decreased their price objective on Revolution Medicines from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, February 27th. UBS Group upped their target price on Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. HC Wainwright increased their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Finally, Guggenheim boosted their price target on Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Revolution Medicines presently has a consensus rating of "Buy" and a consensus target price of $65.23.

Revolution Medicines Stock Performance

RVMD traded up $0.98 on Wednesday, reaching $34.60. The company had a trading volume of 3,759,407 shares, compared to its average volume of 1,398,214. The stock has a market cap of $6.43 billion, a P/E ratio of -9.64 and a beta of 1.46. Revolution Medicines, Inc. has a fifty-two week low of $29.55 and a fifty-two week high of $62.40. The company's fifty day moving average is $39.97 and its 200 day moving average is $45.42.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.11). On average, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

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.