Revolution Medicines, Inc. (NASDAQ:RVMD) Stake Cut by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 85.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,500 shares of the company’s stock after selling 15,167 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Revolution Medicines were worth $109,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its stake in Revolution Medicines by 29.5% during the third quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock worth $5,348,000 after purchasing an additional 26,871 shares during the last quarter. State Street Corp lifted its stake in Revolution Medicines by 4.1% during the third quarter. State Street Corp now owns 5,279,584 shares of the company’s stock worth $239,429,000 after purchasing an additional 208,516 shares during the last quarter. Barclays PLC lifted its stake in Revolution Medicines by 187.1% during the third quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after purchasing an additional 192,021 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Revolution Medicines by 58.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after purchasing an additional 653,433 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Revolution Medicines by 1,109.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 38,589 shares of the company’s stock worth $1,750,000 after purchasing an additional 35,399 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RVMD shares. Piper Sandler raised their target price on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. HC Wainwright raised their target price on Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Oppenheimer raised their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, UBS Group raised their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Revolution Medicines presently has an average rating of “Buy” and an average price target of $66.25.

Insider Activity

In other news, Director Thilo Schroeder bought 1,304,347 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the completion of the acquisition, the director now directly owns 2,096,612 shares in the company, valued at approximately $96,444,152. The trade was a 164.64 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Anders sold 2,635 shares of Revolution Medicines stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $119,629.00. Following the transaction, the chief financial officer now directly owns 96,470 shares in the company, valued at approximately $4,379,738. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,678 shares of company stock valued at $847,981. Company insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Performance

Shares of RVMD opened at $41.32 on Friday. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of -11.51 and a beta of 1.45. Revolution Medicines, Inc. has a one year low of $28.43 and a one year high of $62.40. The stock’s fifty day moving average is $43.21 and its 200-day moving average is $46.42.

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.