Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by Fmr LLC

FMR LLC increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,742,083 shares of the company's stock after purchasing an additional 866,190 shares during the period. FMR LLC owned approximately 4.01% of Revolution Medicines worth $294,899,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new position in shares of Revolution Medicines during the 4th quarter valued at $34,000. Farther Finance Advisors LLC lifted its holdings in Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock valued at $90,000 after acquiring an additional 1,613 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Revolution Medicines by 521.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock valued at $165,000 after acquiring an additional 3,178 shares during the period. Avanza Fonder AB purchased a new position in Revolution Medicines in the fourth quarter worth about $173,000. Finally, Quantbot Technologies LP bought a new stake in shares of Revolution Medicines during the 4th quarter valued at about $186,000. Institutional investors own 94.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RVMD shares. Stifel Nicolaus dropped their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. HC Wainwright boosted their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Wedbush reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. UBS Group boosted their price target on Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $59.00 price objective on shares of Revolution Medicines in a research note on Tuesday, April 8th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Revolution Medicines currently has an average rating of "Buy" and a consensus target price of $66.67.

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Revolution Medicines Trading Down 1.3 %

Shares of NASDAQ:RVMD traded down $0.49 on Tuesday, hitting $35.98. 571,782 shares of the company were exchanged, compared to its average volume of 1,417,597. The stock's 50 day moving average price is $38.26 and its 200 day moving average price is $44.65. The firm has a market capitalization of $6.69 billion, a P/E ratio of -10.02 and a beta of 1.37. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40.

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

Insiders Place Their Bets

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of the firm'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 transaction, the insider now directly owns 441,564 shares of the company's stock, valued at $17,238,658.56. This trade represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the company'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 $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,660 shares of company stock worth $650,406. Company insiders own 8.00% of the company's stock.

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.