Vanguard Group Inc. Purchases 2,185,082 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Vanguard Group Inc. boosted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 14.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,096,455 shares of the company’s stock after acquiring an additional 2,185,082 shares during the period. Vanguard Group Inc. owned 10.16% of Revolution Medicines worth $747,799,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. IFP Advisors Inc bought a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $34,000. Quarry LP purchased a new position in Revolution Medicines in the 3rd quarter valued at approximately $82,000. Farther Finance Advisors LLC grew its stake in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after buying an additional 1,613 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Revolution Medicines by 521.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company’s stock valued at $165,000 after acquiring an additional 3,178 shares during the period. Finally, Avanza Fonder AB purchased a new stake in shares of Revolution Medicines during the fourth quarter worth $173,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Stock Down 2.0 %

RVMD opened at $37.35 on Friday. The business’s fifty day simple moving average is $40.32 and its 200 day simple moving average is $45.58. Revolution Medicines, Inc. has a 52 week low of $29.55 and a 52 week high of $62.40. The stock has a market cap of $6.94 billion, a PE ratio of -10.40 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, equities analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Needham & Company LLC reduced their price target on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. HC Wainwright lifted their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd. UBS Group increased their price target 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. Wedbush reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $66.31.

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.