Allspring Global Investments Holdings LLC Has $1.24 Million Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Allspring Global Investments Holdings LLC reduced its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 38.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,992 shares of the company's stock after selling 22,751 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Revolution Medicines were worth $1,244,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Boxer Capital Management LLC bought a new stake in Revolution Medicines in the 4th quarter valued at $187,184,000. Janus Henderson Group PLC increased its holdings in Revolution Medicines by 54.5% in the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock valued at $414,777,000 after buying an additional 3,346,755 shares during the period. Vanguard Group Inc. increased its holdings in Revolution Medicines by 14.7% in 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 during the period. Farallon Capital Management LLC increased its holdings in Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after buying an additional 1,931,000 shares during the period. Finally, Norges Bank bought a new stake in Revolution Medicines in the 4th quarter valued at $76,197,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RVMD has been the topic of several analyst reports. Stifel Nicolaus lowered their price target 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. Oppenheimer boosted their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wedbush restated an "outperform" rating and issued a $73.00 target price (up previously from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Guggenheim restated a "buy" rating and issued a $80.00 target price on shares of Revolution Medicines in a research note on Wednesday, June 25th. Finally, Needham & Company LLC restated a "buy" rating and issued a $57.00 target price on shares of Revolution Medicines in a research note on Tuesday, June 24th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Revolution Medicines currently has an average rating of "Buy" and a consensus target price of $68.00.

Revolution Medicines Stock Down 1.2%

NASDAQ RVMD traded down $0.48 on Friday, hitting $38.02. 1,402,330 shares of the company were exchanged, compared to its average volume of 1,657,114. The firm has a 50 day moving average of $39.23 and a two-hundred day moving average of $39.50. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40.

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