Algert Global LLC Grows Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Algert Global LLC lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 17.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,973 shares of the company's stock after buying an additional 6,925 shares during the quarter. Algert Global LLC's holdings in Revolution Medicines were worth $2,055,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Boxer Capital Management LLC purchased a new stake in Revolution Medicines in the 4th quarter worth approximately $187,184,000. Vanguard Group Inc. raised its position in shares of Revolution Medicines by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after buying an additional 2,185,082 shares in the last quarter. Norges Bank purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at $76,197,000. FMR LLC raised its position in shares of Revolution Medicines by 14.7% during the 4th quarter. FMR LLC now owns 6,742,083 shares of the company's stock valued at $294,899,000 after buying an additional 866,190 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Revolution Medicines by 4,399.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 712,596 shares of the company's stock valued at $31,169,000 after purchasing an additional 696,759 shares during the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RVMD has been the topic of several recent research reports. Stifel Nicolaus reduced their target price 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. Wedbush reissued an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, May 8th. Oppenheimer raised their target price on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $57.00 target price on shares of Revolution Medicines in a research report on Thursday, May 8th. Finally, HC Wainwright lifted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $67.17.

Revolution Medicines Stock Performance

Shares of RVMD stock traded down $1.93 during trading hours on Tuesday, reaching $39.95. The company had a trading volume of 1,482,564 shares, compared to its average volume of 1,492,410. The business has a fifty day moving average price of $37.40 and a 200-day moving average price of $43.36. The firm has a market cap of $7.44 billion, a PE ratio of -11.13 and a beta of 1.11. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same period last year, the company posted ($0.70) EPS. Equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Transactions at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,738 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the transaction, the insider now owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,660 shares of company stock valued at $650,406. 8.00% of the stock is currently owned by corporate insiders.

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.