Revolution Medicines, Inc. (NASDAQ:RVMD) Holdings Boosted by Baker BROS. Advisors LP

Baker BROS. Advisors LP raised its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,936,972 shares of the company's stock after buying an additional 367,882 shares during the period. Revolution Medicines comprises 3.7% of Baker BROS. Advisors LP's portfolio, making the stock its 7th largest holding. Baker BROS. Advisors LP owned 4.72% of Revolution Medicines worth $347,163,000 as of its most recent SEC filing.

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

Insider Activity at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 11,738 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the transaction, the insider now owns 441,564 shares of the company's stock, valued at $17,238,658.56. This trade represents a 2.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Margaret A. Horn sold 3,058 shares of the business's stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock worth $650,406 in the last quarter. 8.00% of the stock is owned by company insiders.

Revolution Medicines Trading Up 0.2 %

Shares of RVMD opened at $40.72 on Friday. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The company's fifty day simple moving average is $37.34 and its 200-day simple moving average is $43.74. The company has a market cap of $7.58 billion, a P/E ratio of -11.34 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced 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). Analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RVMD has been the topic of a number of research analyst reports. Wedbush reissued an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Monday, April 28th. HC Wainwright lifted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Stifel Nicolaus dropped their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. UBS Group boosted their target price on Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $59.00 price objective on shares of Revolution Medicines in a research note on Tuesday, April 8th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Revolution Medicines presently has a consensus rating of "Buy" and a consensus target price of $66.67.

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.

Want to see what other hedge funds are holding RVMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.