Charles Schwab Investment Management Inc. Buys 167,997 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Charles Schwab Investment Management Inc. boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,931,114 shares of the company’s stock after purchasing an additional 167,997 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.15% of Revolution Medicines worth $84,467,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RVMD. Lord Abbett & CO. LLC bought a new stake in Revolution Medicines during the third quarter worth approximately $83,082,000. Janus Henderson Group PLC boosted its position in Revolution Medicines by 32.3% during the third quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock worth $278,280,000 after purchasing an additional 1,497,026 shares during the period. Fred Alger Management LLC boosted its position in Revolution Medicines by 2,384.3% during the third quarter. Fred Alger Management LLC now owns 540,673 shares of the company’s stock worth $24,520,000 after purchasing an additional 518,909 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Revolution Medicines by 8.7% during the third quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company’s stock worth $164,517,000 after buying an additional 291,369 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Revolution Medicines by 4.4% during the third quarter. FMR LLC now owns 5,875,893 shares of the company’s stock worth $266,472,000 after buying an additional 250,037 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $36.82 on Tuesday. The stock has a fifty day moving average price of $41.46 and a two-hundred day moving average price of $46.00. Revolution Medicines, Inc. has a 52-week low of $29.55 and a 52-week high of $62.40. The firm has a market capitalization of $6.85 billion, a P/E ratio of -10.26 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RVMD. UBS Group upped their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Guggenheim upped their price target on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. HC Wainwright upped their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Needham & Company LLC cut their price target on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $66.31.

Insiders Place Their Bets

In other news, CFO Jack Anders sold 2,635 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $119,629.00. Following the sale, the chief financial officer now owns 96,470 shares in the company, valued at approximately $4,379,738. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark A. Goldsmith sold 11,714 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the sale, the insider now owns 325,056 shares in the company, valued at $14,757,542.40. The trade was a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,678 shares of company stock worth $847,981 over the last three months. 8.00% of the stock is currently owned by corporate insiders.

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.