Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by Fmr LLC

Fmr LLC grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,875,893 shares of the company’s stock after purchasing an additional 250,037 shares during the period. Fmr LLC’s holdings in Revolution Medicines were worth $266,472,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Citigroup Inc. boosted its position in Revolution Medicines by 29.5% during the 3rd 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 period. Eagle Asset Management Inc. acquired a new position in shares of Revolution Medicines during the third quarter worth about $3,267,000. Charles Schwab Investment Management Inc. boosted its position 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 worth $79,957,000 after buying an additional 653,433 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Revolution Medicines in the third quarter valued at about $1,709,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Revolution Medicines in the third quarter valued at about $1,220,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jack Anders sold 10,000 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.30, for a total transaction of $503,000.00. Following the sale, the chief financial officer now owns 98,932 shares in the company, valued at $4,976,279.60. This represents a 9.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barbara Weber sold 5,200 shares of Revolution Medicines stock in a transaction that occurred 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 completion of the transaction, the director now owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. The trade was a 28.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock worth $6,355,624 over the last ninety days. 8.00% of the stock is owned by insiders.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $57.85 on Monday. The company has a market capitalization of $9.73 billion, a price-to-earnings ratio of -16.11 and a beta of 1.40. Revolution Medicines, Inc. has a one year low of $22.77 and a one year high of $62.40. The stock has a 50-day simple moving average of $51.89 and a 200 day simple moving average of $45.35.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the prior year, the company earned ($0.99) earnings per share. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -3.51 EPS for the current fiscal year.

Analysts Set New Price Targets

RVMD has been the subject of a number of analyst reports. HC Wainwright upped their price target on Revolution Medicines from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays upped their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Needham & Company LLC lifted their price target on shares of Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Piper Sandler lifted their target price on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $61.00.

Revolution Medicines 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.