Barclays PLC Increases Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Barclays PLC increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 38.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 408,614 shares of the company's stock after acquiring an additional 113,950 shares during the quarter. Barclays PLC owned approximately 0.24% of Revolution Medicines worth $17,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock worth $747,799,000 after purchasing an additional 2,185,082 shares during the period. Lord Abbett & CO. LLC bought a new position in Revolution Medicines during the 3rd quarter valued at approximately $83,082,000. Norges Bank purchased a new stake in Revolution Medicines in the 4th quarter worth approximately $76,197,000. FMR LLC grew its position in shares of Revolution Medicines by 14.7% in the 4th quarter. FMR LLC now owns 6,742,083 shares of the company's stock worth $294,899,000 after buying an additional 866,190 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Revolution Medicines by 4,399.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 712,596 shares of the company's stock worth $31,169,000 after buying an additional 696,759 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Stock Performance

Shares of RVMD traded up $0.00 during trading hours on Friday, hitting $38.58. The company had a trading volume of 243,746 shares, compared to its average volume of 1,426,644. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The firm has a fifty day moving average price of $37.49 and a 200-day moving average price of $44.16. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of -10.75 and a beta of 1.37.

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). Research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the transaction, the chief financial officer now directly owns 115,006 shares in the company, valued at $4,489,834.24. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the sale, the insider now directly owns 441,564 shares of the company's stock, valued at $17,238,658.56. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 in the last 90 days. 8.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.