Invesco Ltd. Sells 29,594 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Invesco Ltd. decreased its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 20.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,652 shares of the company's stock after selling 29,594 shares during the quarter. Invesco Ltd. owned 0.07% of Revolution Medicines worth $5,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc purchased a new position in Revolution Medicines during the fourth quarter valued at approximately $34,000. Farther Finance Advisors LLC boosted its stake in Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after buying an additional 1,613 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Revolution Medicines by 521.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock worth $165,000 after acquiring an additional 3,178 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of Revolution Medicines during the 4th quarter worth $173,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at about $186,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Up 0.3 %

NASDAQ:RVMD traded up $0.13 during trading hours on Thursday, reaching $40.51. 201,422 shares of the stock were exchanged, compared to its average volume of 1,443,462. The stock has a market capitalization of $7.53 billion, a P/E ratio of -11.30 and a beta of 1.37. The firm has a 50 day simple moving average of $37.36 and a 200-day simple moving average of $43.90. 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 announced 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). As a group, analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. 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. Stifel Nicolaus decreased their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Wedbush reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Monday. UBS Group raised their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, HC Wainwright increased their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $66.67.

Insider Activity

In other news, COO Margaret A. Horn sold 3,058 shares of the firm'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 of the company's stock, valued at approximately $5,993,928.32. This trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction on Monday, March 17th. The stock was 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 owns 115,006 shares in the company, valued at approximately $4,489,834.24. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,660 shares of company stock worth $650,406. 8.00% of the stock is owned by company insiders.

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.