Revolution Medicines, Inc. (NASDAQ:RVMD) Holdings Lowered by Alphabet Inc.

Alphabet Inc. lessened its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 2.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,133,277 shares of the company's stock after selling 122,898 shares during the period. Revolution Medicines makes up 10.5% of Alphabet Inc.'s holdings, making the stock its 4th largest position. Alphabet Inc. owned about 2.46% of Revolution Medicines worth $180,790,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. IFP Advisors Inc bought a new stake in Revolution Medicines during the fourth quarter worth approximately $34,000. Quarry LP acquired a new stake in Revolution Medicines during the 3rd quarter valued at $82,000. KBC Group NV lifted its stake in Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company's stock worth $146,000 after acquiring an additional 368 shares in the last quarter. Avanza Fonder AB acquired a new stake in shares of Revolution Medicines during the fourth quarter worth approximately $173,000. Finally, Everence Capital Management Inc. purchased a new position in Revolution Medicines during the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RVMD shares. HC Wainwright upped their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Wedbush reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a research report on Thursday, February 27th. Stifel Nicolaus reduced their price target on Revolution Medicines from $80.00 to $78.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Guggenheim increased their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Finally, 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. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $66.31.

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Insider Activity

In related news, CFO Jack Anders sold 2,635 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the transaction, the chief financial officer now owns 96,470 shares in the company, valued at $4,379,738. This represents a 2.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark A. Goldsmith sold 11,714 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the sale, the insider now directly owns 325,056 shares of the company's stock, valued at $14,757,542.40. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,678 shares of company stock worth $847,981. Company insiders own 8.00% of the company's stock.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD traded up $2.07 on Tuesday, hitting $38.89. 1,975,335 shares of the company were exchanged, compared to its average volume of 1,376,932. Revolution Medicines, Inc. has a one year low of $29.55 and a one year high of $62.40. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of -10.83 and a beta of 1.46. The company's 50 day moving average price is $41.46 and its two-hundred day moving average price is $46.00.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released 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). Research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share 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.