Wells Fargo & Company MN Increases Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Wells Fargo & Company MN boosted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 51.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,327 shares of the company's stock after acquiring an additional 30,155 shares during the period. Wells Fargo & Company MN owned 0.05% of Revolution Medicines worth $3,863,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Revolution Medicines by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after purchasing an additional 2,185,082 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Revolution Medicines by 12.7% during the 4th quarter. Geode Capital Management LLC now owns 4,086,199 shares of the company's stock valued at $180,171,000 after acquiring an additional 459,174 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock valued at $84,467,000 after purchasing an additional 167,997 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Revolution Medicines during the third quarter worth about $83,082,000. Finally, Norges Bank purchased a new position in Revolution Medicines during the fourth quarter worth about $76,197,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 3,058 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 $119,384.32. Following the sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at approximately $5,993,928.32. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jack Anders sold 1,864 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at $4,489,834.24. This trade represents a 1.59 % 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 over the last 90 days. 8.00% of the stock is owned by insiders.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD traded up $0.17 during trading on Friday, hitting $38.75. The company's stock had a trading volume of 562,187 shares, compared to its average volume of 1,428,001. The company has a market capitalization of $7.20 billion, a PE ratio of -10.81 and a beta of 1.37. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The business has a 50 day moving average price of $37.49 and a two-hundred day moving average price of $44.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted 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). As a group, equities analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RVMD has been the subject of several 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 research note on Wednesday, January 8th. HC Wainwright raised their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Wedbush reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $59.00 price objective on shares of Revolution Medicines in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus reduced their price objective 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. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target 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.