Alliancebernstein L.P. Has $10.28 Million Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Alliancebernstein L.P. trimmed its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 234,929 shares of the company's stock after selling 15,932 shares during the quarter. Alliancebernstein L.P. owned approximately 0.14% of Revolution Medicines worth $10,276,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Captrust Financial Advisors lifted its position in shares of Revolution Medicines by 4.1% in the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company's stock valued at $384,000 after buying an additional 337 shares during the last quarter. State Street Corp boosted its position in Revolution Medicines by 4.1% during the third quarter. State Street Corp now owns 5,279,584 shares of the company's stock worth $239,429,000 after purchasing an additional 208,516 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Revolution Medicines in the third quarter valued at $247,000. Barclays PLC lifted its stake in shares of Revolution Medicines by 187.1% during the 3rd quarter. Barclays PLC now owns 294,664 shares of the company's stock worth $13,362,000 after buying an additional 192,021 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 291,369 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 11,738 shares of the company's stock in a transaction 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 sale, the insider now directly owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. This represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jack Anders sold 1,864 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 transaction of $72,770.56. Following the transaction, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at $4,489,834.24. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock worth $650,406 in the last 90 days. Insiders own 8.00% of the company's stock.

Revolution Medicines Trading Down 1.5 %

Revolution Medicines stock traded down $0.53 during midday trading on Tuesday, reaching $35.94. The company's stock had a trading volume of 488,440 shares, compared to its average volume of 1,417,055. The stock has a market cap of $6.68 billion, a PE ratio of -10.01 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. The business has a 50-day moving average price of $38.26 and a 200-day moving average price of $44.65.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data 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, research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Revolution Medicines 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.