Geode Capital Management LLC Purchases 459,174 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Geode Capital Management LLC lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,086,199 shares of the company's stock after purchasing an additional 459,174 shares during the period. Geode Capital Management LLC owned about 2.43% of Revolution Medicines worth $180,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. AG bought a new stake in Revolution Medicines during the 4th quarter valued at approximately $752,000. California Public Employees Retirement System grew its holdings in Revolution Medicines by 17.3% during the 4th quarter. California Public Employees Retirement System now owns 268,289 shares of the company's stock valued at $11,735,000 after buying an additional 39,475 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Revolution Medicines by 4,399.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 712,596 shares of the company's stock valued at $31,169,000 after buying an additional 696,759 shares during the last quarter. Norges Bank purchased a new position in shares of Revolution Medicines in the fourth quarter worth $76,197,000. Finally, NEOS Investment Management LLC boosted its position in shares of Revolution Medicines by 26.7% during the fourth quarter. NEOS Investment Management LLC now owns 48,239 shares of the company's stock worth $2,110,000 after acquiring an additional 10,157 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

RVMD has been the topic of a number of research reports. Stifel Nicolaus reduced their price target 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. UBS Group lifted 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 note on Monday, March 3rd. Wedbush restated an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $59.00 price objective on shares of Revolution Medicines in a report on Tuesday. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $66.67.

Insider Transactions at Revolution Medicines

In other news, COO Margaret A. Horn sold 3,058 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the transaction, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the transaction, the chief financial officer now directly owns 115,006 shares in the company, valued at $4,489,834.24. This 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. 8.00% of the stock is currently owned by company insiders.

Revolution Medicines Stock Up 6.1 %

RVMD traded up $2.05 during trading on Friday, reaching $35.72. The company had a trading volume of 1,815,418 shares, compared to its average volume of 1,422,446. The business has a 50 day simple moving average of $38.41 and a 200-day simple moving average of $44.70. The stock has a market cap of $6.64 billion, a P/E ratio of -9.95 and a beta of 1.37. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly 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). As a group, equities research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal 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.