Principal Financial Group Inc. Has $587,000 Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Principal Financial Group Inc. lessened its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 46.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,947 shares of the company’s stock after selling 11,275 shares during the quarter. Principal Financial Group Inc.’s holdings in Revolution Medicines were worth $587,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its stake in shares of Revolution Medicines by 65.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 32,127 shares of the company’s stock worth $1,457,000 after purchasing an additional 12,744 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Revolution Medicines by 22.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,041 shares of the company’s stock worth $267,000 after purchasing an additional 1,115 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Revolution Medicines during the 3rd quarter worth $93,000. Allspring Global Investments Holdings LLC increased its stake in shares of Revolution Medicines by 1,109.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,589 shares of the company’s stock worth $1,750,000 after purchasing an additional 35,399 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Revolution Medicines by 156.2% during the 3rd quarter. Raymond James & Associates now owns 190,505 shares of the company’s stock worth $8,639,000 after purchasing an additional 116,135 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on RVMD. HC Wainwright raised their target price on shares of Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wedbush reiterated an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a research note on Thursday, August 8th. Oppenheimer raised their target price on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Piper Sandler increased their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC increased their price target on shares of Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and a consensus target price of $61.00.

Insider Activity

In other Revolution Medicines news, COO Margaret A. Horn sold 50,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the completion of the sale, the chief operating officer now owns 132,320 shares in the company, valued at approximately $6,660,988.80. The trade was a 27.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the sale, the director now owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. The trade was a 28.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,866 shares of company stock worth $6,355,624 in the last quarter. 8.00% of the stock is owned by corporate insiders.

Revolution Medicines Trading Down 0.1 %

RVMD stock opened at $56.75 on Monday. The stock has a market capitalization of $9.55 billion, a P/E ratio of -15.81 and a beta of 1.40. Revolution Medicines, Inc. has a 12 month low of $20.98 and a 12 month high of $62.40. The firm has a 50-day moving average price of $50.55 and a 200-day moving average price of $44.62.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period last year, the business posted ($0.99) EPS. As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.51 EPS for the current fiscal year.

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.