Fmr LLC Increases Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

FMR LLC grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 14.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,742,083 shares of the company's stock after acquiring an additional 866,190 shares during the quarter. FMR LLC owned 4.01% of Revolution Medicines worth $294,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc purchased a new position in shares of Revolution Medicines in the fourth quarter valued at about $34,000. 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 valued at $90,000 after purchasing an additional 1,613 shares during the period. Daiwa Securities Group Inc. raised its position in Revolution Medicines by 521.8% during the 4th 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 last quarter. Avanza Fonder AB purchased a new stake in Revolution Medicines in the 4th quarter worth approximately $173,000. Finally, Quantbot Technologies LP purchased a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $186,000. 94.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 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 transaction of $119,384.32. Following the completion of the sale, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. The trade was a 1.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the transaction, the insider now owns 441,564 shares in the company, valued at $17,238,658.56. This represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,660 shares of company stock worth $650,406. Insiders own 8.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on RVMD shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $59.00 price target on shares of Revolution Medicines in a research note on Tuesday, April 8th. HC Wainwright lifted their target price 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. UBS Group increased 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. Wedbush reiterated an "outperform" rating and set a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. Finally, Stifel Nicolaus lowered 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. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $66.67.

Revolution Medicines Stock Performance

Shares of RVMD traded up $0.03 during trading hours on Wednesday, hitting $36.35. The company had a trading volume of 435,731 shares, compared to its average volume of 1,416,917. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of -10.11 and a beta of 1.37. The firm has a fifty day moving average price of $38.11 and a 200-day moving average price of $44.59. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

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.