Victory Capital Management Inc. Trims Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Victory Capital Management Inc. cut its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 430,462 shares of the company’s stock after selling 7,288 shares during the quarter. Victory Capital Management Inc. owned approximately 0.26% of Revolution Medicines worth $18,828,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RVMD. IFP Advisors Inc acquired a new stake in Revolution Medicines during the fourth quarter worth approximately $34,000. Quarry LP acquired a new stake in shares of Revolution Medicines during the third quarter worth $82,000. KBC Group NV grew its position in shares of Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after purchasing an additional 368 shares during the period. Avanza Fonder AB acquired a new position in Revolution Medicines in the fourth quarter valued at $173,000. Finally, Everence Capital Management Inc. purchased a new position in Revolution Medicines during the fourth quarter worth about $203,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on RVMD shares. Wedbush restated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. HC Wainwright boosted their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Guggenheim lifted their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their price objective on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus lowered their price target on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Twelve investment 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.com, the company currently has a consensus rating of “Buy” and a consensus price target of $66.31.

Revolution Medicines Stock Up 5.6 %

NASDAQ RVMD opened at $38.89 on Wednesday. Revolution Medicines, Inc. has a fifty-two week low of $29.55 and a fifty-two week high of $62.40. The business has a 50 day moving average price of $41.37 and a two-hundred day moving average price of $45.97. The stock has a market cap of $7.23 billion, a PE ratio of -10.83 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 4,329 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $196,536.60. Following the sale, the chief operating officer now directly owns 127,991 shares in the company, valued at $5,810,791.40. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 11,714 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $531,815.60. Following the transaction, the insider now owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,678 shares of company stock valued at $847,981 in the last ninety days. 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.