Bellevue Group AG Cuts Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Bellevue Group AG decreased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,386,900 shares of the company's stock after selling 484,460 shares during the quarter. Revolution Medicines comprises about 3.7% of Bellevue Group AG's investment portfolio, making the stock its 7th largest holding. Bellevue Group AG owned about 2.61% of Revolution Medicines worth $191,883,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 2,185,082 shares during the period. FMR LLC boosted its position in shares of Revolution Medicines by 14.7% during the fourth quarter. FMR LLC now owns 6,742,083 shares of the company's stock worth $294,899,000 after buying an additional 866,190 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Revolution Medicines by 10.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,865,962 shares of the company's stock worth $256,578,000 after buying an additional 552,657 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in Revolution Medicines in the 4th quarter valued at approximately $187,184,000. Finally, Geode Capital Management LLC raised its stake in Revolution Medicines by 12.7% during the 4th quarter. Geode Capital Management LLC now owns 4,086,199 shares of the company's stock valued at $180,171,000 after acquiring an additional 459,174 shares in the last quarter. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Up 0.2 %

Shares of Revolution Medicines stock opened at $40.72 on Friday. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $62.40. The firm has a market capitalization of $7.58 billion, a PE ratio of -11.34 and a beta of 1.11. The stock's fifty day moving average is $37.34 and its 200-day moving average is $43.74.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.11). Analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Ratings Changes

RVMD has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Needham & Company LLC reissued a "buy" rating and set a $59.00 target price on shares of Revolution Medicines in a research note on Tuesday, April 8th. UBS Group upped their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. HC Wainwright raised their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, Wedbush restated an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a research report on Monday, April 28th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Revolution Medicines presently has a consensus rating of "Buy" and an average price target of $66.67.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 11,738 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the sale, the insider now owns 441,564 shares of the company's stock, valued at $17,238,658.56. This trade represents a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the transaction, the chief operating officer now owns 153,533 shares in the company, valued at $5,993,928.32. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,660 shares of company stock valued at $650,406. Company insiders own 8.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.