Vanguard Group Inc. Grows Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Vanguard Group Inc. boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 14.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 17,096,455 shares of the company's stock after buying an additional 2,185,082 shares during the period. Vanguard Group Inc. owned 10.16% of Revolution Medicines worth $747,799,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RVMD. IFP Advisors Inc purchased a new position in shares of Revolution Medicines in the fourth quarter worth $34,000. Quarry LP bought a new stake in Revolution Medicines in the 3rd quarter valued at $82,000. Farther Finance Advisors LLC increased its holdings in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock valued at $90,000 after acquiring an additional 1,613 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Revolution Medicines by 521.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock worth $165,000 after purchasing an additional 3,178 shares in the last quarter. Finally, Avanza Fonder AB bought a new position in shares of Revolution Medicines during the 4th quarter valued at about $173,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Price Performance

Shares of RVMD traded down $1.74 during mid-day trading on Tuesday, reaching $33.62. 2,705,697 shares of the company's stock traded hands, compared to its average volume of 1,384,715. The stock's 50-day moving average is $40.22 and its two-hundred day moving average is $45.57. Revolution Medicines, Inc. has a 12 month low of $29.55 and a 12 month high of $62.40. The stock has a market cap of $6.25 billion, a P/E ratio of -9.36 and a beta of 1.46.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RVMD shares. Wedbush reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. Needham & Company LLC reduced their price objective on Revolution Medicines from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. UBS Group increased their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. 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 research report on Tuesday. Finally, Guggenheim increased their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Revolution Medicines has a consensus rating of "Buy" and an average price target of $65.23.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 1,864 shares of the business'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 $72,770.56. Following the completion of the sale, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at $4,489,834.24. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Margaret A. Horn sold 3,058 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 $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 trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,660 shares of company stock worth $650,406. Insiders own 8.00% of the company's stock.

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.