Allspring Global Investments Holdings LLC Trims Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 38.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Sterling Capital Management LLC boosted its stake in Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after buying an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Revolution Medicines by 368.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after purchasing an additional 1,613 shares during the period. Kapitalo Investimentos Ltda purchased a new position in shares of Revolution Medicines in the 4th quarter valued at $104,000. GF Fund Management CO. LTD. acquired a new position in Revolution Medicines during the 4th quarter valued at about $154,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Revolution Medicines by 521.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock valued at $165,000 after purchasing an additional 3,178 shares during the period. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Trading Down 0.6%

NASDAQ:RVMD opened at $36.44 on Wednesday. The company has a market capitalization of $6.79 billion, a P/E ratio of -9.11 and a beta of 1.06. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The firm has a 50-day moving average price of $39.36 and a two-hundred day moving average price of $39.59.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced 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 quarter in the previous year, the business earned ($0.70) EPS. On average, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on RVMD shares. 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. Stifel Nicolaus cut their target price on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Oppenheimer raised their target price on 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 price objective (up previously from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Finally, HC Wainwright reiterated a "buy" rating and set a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $68.00.

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.

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