Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Sold by Granahan Investment Management LLC

Granahan Investment Management LLC lowered its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,430 shares of the company's stock after selling 29,929 shares during the quarter. Granahan Investment Management LLC owned approximately 0.07% of Revolution Medicines worth $5,224,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its holdings in Revolution Medicines by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock valued at $220,000 after purchasing an additional 270 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Revolution Medicines by 11.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock worth $186,000 after purchasing an additional 434 shares during the last quarter. Amalgamated Bank raised its position in shares of Revolution Medicines by 8.3% during the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company's stock worth $250,000 after purchasing an additional 435 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Revolution Medicines by 5.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock valued at $498,000 after buying an additional 545 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Revolution Medicines by 2.0% in the 4th quarter. Arizona State Retirement System now owns 33,905 shares of the company's stock worth $1,483,000 after buying an additional 650 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Insider Activity at Revolution Medicines

In other news, CFO Jack Anders sold 1,864 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 11,738 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the completion of the transaction, the insider now directly owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. The trade was a 2.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,660 shares of company stock worth $650,406. 8.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Needham & Company LLC reiterated a "buy" rating and set a $57.00 price target on shares of Revolution Medicines in a research report on Thursday, May 8th. Guggenheim dropped their target price on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Oppenheimer increased their target price 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. Stifel Nicolaus lowered their target price on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Finally, Wedbush reissued an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, May 8th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $67.17.

Revolution Medicines Price Performance

Shares of RVMD stock traded down $1.93 during trading hours on Tuesday, hitting $39.95. The company had a trading volume of 1,546,113 shares, compared to its average volume of 1,492,808. The stock has a market capitalization of $7.44 billion, a PE ratio of -11.13 and a beta of 1.11. The company's fifty day moving average is $37.42 and its 200 day moving average is $43.33. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter in the prior year, the firm earned ($0.70) earnings per share. Equities analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current 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.