Revolution Medicines, Inc. (NASDAQ:RVMD) Stock Holdings Lowered by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 401,043 shares of the company's stock after selling 27,075 shares during the quarter. Bank of America Corp DE owned about 0.24% of Revolution Medicines worth $17,542,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of RVMD. Boxer Capital Management LLC purchased a new stake in Revolution Medicines in the fourth quarter valued at approximately $187,184,000. Vanguard Group Inc. grew its holdings in Revolution Medicines by 14.7% in the fourth 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. Norges Bank purchased a new stake in Revolution Medicines in the fourth quarter valued at approximately $76,197,000. FMR LLC grew its holdings in Revolution Medicines by 14.7% in the fourth quarter. FMR LLC now owns 6,742,083 shares of the company's stock valued at $294,899,000 after purchasing an additional 866,190 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in Revolution Medicines by 4,399.6% in the fourth 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 period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $57.00 price target on shares of Revolution Medicines in a research report on Thursday, May 8th. HC Wainwright reaffirmed a "buy" rating and set a $72.00 price target (down from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Guggenheim reduced their price target on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Oppenheimer lifted their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $67.08.

Revolution Medicines Stock Up 2.5%

Shares of NASDAQ RVMD traded up $0.97 during trading on Monday, reaching $39.77. 1,398,581 shares of the stock were exchanged, compared to its average volume of 1,494,173. The business's 50-day moving average price is $37.57 and its 200 day moving average price is $42.29. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of -11.08 and a beta of 1.11.

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

Insider Transactions at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 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 value of $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares of the company's stock, valued at $5,993,928.32. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at $4,489,834.24. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,660 shares of company stock valued at $650,406. Corporate insiders own 8.20% of the company's stock.

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.