Fmr LLC Increases Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Fmr LLC lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,875,893 shares of the company’s stock after buying an additional 250,037 shares during the period. Fmr LLC owned about 3.49% of Revolution Medicines worth $266,472,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its position in Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after acquiring an additional 222 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Revolution Medicines in the 3rd quarter valued at about $93,000. Nisa Investment Advisors LLC lifted its stake in shares of Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after purchasing an additional 320 shares during the period. KBC Group NV boosted its holdings in Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares in the last quarter. Finally, Amalgamated Bank grew its position in Revolution Medicines by 7.4% during the second quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after buying an additional 365 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of Revolution Medicines stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the transaction, the director now owns 13,065 shares in the company, valued at $627,381.30. This trade represents a 28.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark A. Goldsmith sold 30,000 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.36, for a total value of $1,510,800.00. Following the sale, the insider now owns 300,170 shares of the company’s stock, valued at approximately $15,116,561.20. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,866 shares of company stock worth $6,355,624. 8.00% of the stock is currently owned by insiders.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $57.85 on Monday. The company has a market cap of $9.73 billion, a PE ratio of -16.11 and a beta of 1.40. The company has a 50-day simple moving average of $51.89 and a 200-day simple moving average of $45.35. Revolution Medicines, Inc. has a 12 month low of $22.77 and a 12 month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period in the previous year, the firm earned ($0.99) EPS. On average, analysts anticipate that Revolution Medicines, Inc. will post -3.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Piper Sandler boosted their price target on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Barclays boosted their target price on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Wedbush restated an “outperform” rating and issued a $59.00 price target on shares of Revolution Medicines in a research report on Thursday, August 8th. Needham & Company LLC boosted their price objective on shares of Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, HC Wainwright raised their target price on shares of Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $61.00.

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.