Revolution Medicines, Inc. (NASDAQ:RVMD) Position Cut by Great Lakes Advisors LLC

Great Lakes Advisors LLC lowered its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,973 shares of the company’s stock after selling 3,061 shares during the quarter. Great Lakes Advisors LLC owned about 0.07% of Revolution Medicines worth $4,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RVMD. Lord Abbett & CO. LLC acquired a new position in Revolution Medicines during the 3rd quarter valued at about $83,082,000. Janus Henderson Group PLC lifted its position in shares of Revolution Medicines by 32.3% in the 3rd quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock valued at $278,280,000 after acquiring an additional 1,497,026 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Revolution Medicines by 58.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock valued at $79,957,000 after purchasing an additional 653,433 shares in the last quarter. Fred Alger Management LLC boosted its position in Revolution Medicines by 2,384.3% during the 3rd quarter. Fred Alger Management LLC now owns 540,673 shares of the company’s stock worth $24,520,000 after acquiring an additional 518,909 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Revolution Medicines during the fourth quarter worth approximately $14,067,000. Institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,714 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $531,815.60. Following the completion of the transaction, the insider now owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. This represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 sale, the chief financial officer now directly owns 96,470 shares in the company, valued at approximately $4,379,738. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,678 shares of company stock worth $847,981 in the last ninety days. 8.00% of the stock is currently owned by insiders.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $39.03 on Friday. Revolution Medicines, Inc. has a 52 week low of $29.55 and a 52 week high of $62.40. The firm has a market capitalization of $7.26 billion, a PE ratio of -10.87 and a beta of 1.46. The business’s 50-day simple moving average is $41.18 and its 200-day simple moving average is $45.88.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on RVMD. Guggenheim boosted their target price on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. HC Wainwright lifted their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Wedbush restated an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, February 27th. Stifel Nicolaus cut their price target on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, UBS Group upped 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. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines has an average rating of “Buy” and a consensus price target of $66.31.

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.