Pictet Asset Management Holding SA Buys 696,759 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Pictet Asset Management Holding SA increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 4,399.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,596 shares of the company's stock after buying an additional 696,759 shares during the quarter. Pictet Asset Management Holding SA owned about 0.42% of Revolution Medicines worth $31,169,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Revolution Medicines by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after acquiring an additional 2,185,082 shares during the last quarter. Janus Henderson Group PLC raised its stake in Revolution Medicines by 32.3% during the third quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company's stock worth $278,280,000 after acquiring an additional 1,497,026 shares in the last quarter. FMR LLC boosted its stake in shares of Revolution Medicines by 4.4% in the 3rd quarter. FMR LLC now owns 5,875,893 shares of the company's stock valued at $266,472,000 after purchasing an additional 250,037 shares in the last quarter. State Street Corp grew its holdings in shares of Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company's stock valued at $239,429,000 after purchasing an additional 208,516 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Revolution Medicines by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company's stock worth $164,517,000 after purchasing an additional 291,369 shares in the last quarter. Institutional investors own 94.34% of the company's stock.

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Analyst Ratings Changes

A number of brokerages recently weighed in on RVMD. HC Wainwright boosted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Guggenheim upped their price objective on Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Needham & Company LLC cut their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their price target 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. Finally, Stifel Nicolaus reduced their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Revolution Medicines currently has an average rating of "Buy" and a consensus target price of $65.23.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The stock was 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 directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 11,738 shares of the firm'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 $458,251.52. Following the completion of the sale, the insider now owns 441,564 shares in the company, valued at $17,238,658.56. This represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock valued at $650,406 over the last quarter. Corporate insiders own 8.00% of the company's stock.

Revolution Medicines Stock Performance

NASDAQ:RVMD traded down $1.74 during midday trading on Tuesday, reaching $33.62. 2,705,697 shares of the stock traded hands, compared to its average volume of 1,387,390. The stock has a market capitalization of $6.25 billion, a P/E ratio of -9.36 and a beta of 1.46. The company has a fifty day moving average of $40.09 and a 200 day moving average of $45.49. Revolution Medicines, Inc. has a 12 month low of $29.55 and a 12 month high of $62.40.

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

About Revolution Medicines

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.