Hsbc Holdings PLC Sells 11,328 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Hsbc Holdings PLC reduced its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 269,294 shares of the company's stock after selling 11,328 shares during the period. Hsbc Holdings PLC owned 0.16% of Revolution Medicines worth $11,777,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rock Springs Capital Management LP increased its stake in shares of Revolution Medicines by 20.1% in the 4th quarter. Rock Springs Capital Management LP now owns 1,213,257 shares of the company's stock valued at $53,068,000 after buying an additional 203,312 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Revolution Medicines by 672.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 18,479 shares of the company's stock valued at $808,000 after buying an additional 16,087 shares during the period. MetLife Investment Management LLC increased its stake in shares of Revolution Medicines by 16.1% in the 4th quarter. MetLife Investment Management LLC now owns 100,329 shares of the company's stock valued at $4,388,000 after buying an additional 13,918 shares during the period. Nan Fung Group Holdings Ltd increased its stake in shares of Revolution Medicines by 163.7% in the 4th quarter. Nan Fung Group Holdings Ltd now owns 19,253 shares of the company's stock valued at $842,000 after buying an additional 11,953 shares during the period. Finally, Altium Capital Management LLC acquired a new stake in shares of Revolution Medicines in the 4th quarter valued at $2,624,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Margaret A. Horn sold 3,058 shares of the business's stock in a transaction dated Monday, March 17th. The stock was 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 in the company, valued at $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jack Anders sold 1,864 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock worth $650,406 over the last three months. Corporate insiders own 8.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RVMD. Needham & Company LLC reaffirmed a "buy" rating and set a $59.00 price objective on shares of Revolution Medicines in a research note on Tuesday, April 8th. Stifel Nicolaus decreased their price objective 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. Wedbush reaffirmed an "outperform" rating and set a $67.00 price objective on shares of Revolution Medicines in a research note on Monday. HC Wainwright lifted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Finally, UBS Group lifted their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Revolution Medicines has an average rating of "Buy" and an average target price of $66.67.

Revolution Medicines Stock Performance

RVMD stock traded up $0.26 during midday trading on Thursday, hitting $40.64. 1,555,469 shares of the company's stock were exchanged, compared to its average volume of 1,448,703. The stock's fifty day moving average price is $37.36 and its 200-day moving average price is $43.90. The company has a market cap of $7.56 billion, a PE ratio of -11.32 and a beta of 1.37. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40.

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