Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 51.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,634,391 shares of the company’s stock after acquiring an additional 4,990,800 shares during the quarter. Vanguard Group Inc. owned about 8.89% of Revolution Medicines worth $419,714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mubadala Investment Co PJSC acquired a new stake in Revolution Medicines during the 4th quarter worth approximately $7,973,000. Wellington Management Group LLP lifted its position in shares of Revolution Medicines by 40.8% during the fourth quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock worth $426,818,000 after purchasing an additional 4,309,611 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Revolution Medicines by 67.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,053,257 shares of the company’s stock worth $30,207,000 after acquiring an additional 425,812 shares in the last quarter. American International Group Inc. raised its position in shares of Revolution Medicines by 41.3% during the 4th quarter. American International Group Inc. now owns 71,494 shares of the company’s stock valued at $2,050,000 after acquiring an additional 20,881 shares in the last quarter. Finally, BVF Inc. IL raised its position in shares of Revolution Medicines by 50.2% during the 4th quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock valued at $171,541,000 after acquiring an additional 2,000,000 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the subject of a number of research reports. Piper Sandler began coverage on Revolution Medicines in a research report on Monday, March 11th. They set an “overweight” rating and a $43.00 price objective for the company. Oppenheimer raised their price target on Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of Revolution Medicines in a report on Thursday, May 9th. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $36.00 to $48.00 in a research note on Wednesday, April 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $44.00 price objective on shares of Revolution Medicines in a research note on Monday, May 13th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $43.20.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $37.00, for a total transaction of $79,735.00. Following the transaction, the director now directly owns 15,700 shares of the company’s stock, valued at $580,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $37.00, for a total value of $79,735.00. Following the sale, the director now directly owns 15,700 shares of the company’s stock, valued at approximately $580,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $35.48, for a total transaction of $266,100.00. Following the completion of the transaction, the insider now owns 452,879 shares in the company, valued at approximately $16,068,146.92. The disclosure for this sale can be found here. Insiders have sold 19,855 shares of company stock valued at $753,935 over the last three months. 8.00% of the stock is owned by corporate insiders.

Revolution Medicines Trading Down 1.1 %

RVMD opened at $38.42 on Thursday. The company’s fifty day moving average price is $38.25 and its two-hundred day moving average price is $32.71. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $41.21. The company has a market cap of $6.34 billion, a price-to-earnings ratio of -10.25 and a beta of 1.45.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.05. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.72) EPS. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -3.12 earnings per share for the current fiscal year.

Revolution Medicines Company 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.