Wellington Management Group LLP Has $473.34 Million Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Wellington Management Group LLP lessened its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,821,691 shares of the company's stock after selling 579,703 shares during the period. Wellington Management Group LLP owned about 5.82% of Revolution Medicines worth $473,341,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on RVMD. Needham & Company LLC lowered their target price on Revolution Medicines from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Guggenheim upped their price objective on Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Stifel Nicolaus cut their target price on shares of Revolution Medicines from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Wedbush restated an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, February 27th. Finally, HC Wainwright lifted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $66.31.

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Insider Activity

In other news, 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 value of $72,770.56. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark A. Goldsmith sold 11,738 shares of the company'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 value of $458,251.52. Following the transaction, the insider now directly owns 441,564 shares in the company, valued at approximately $17,238,658.56. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock worth $650,406 in the last quarter. 8.00% of the stock is owned by corporate insiders.

Revolution Medicines Trading Down 5.3 %

RVMD stock opened at $35.36 on Tuesday. The firm has a market cap of $6.57 billion, a PE ratio of -9.85 and a beta of 1.46. The stock has a 50-day moving average price of $40.22 and a 200-day moving average price of $45.57. Revolution Medicines, Inc. has a 1-year low of $29.55 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.11). On average, analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

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.

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