Sei Investments Co. Cuts Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Sei Investments Co. trimmed its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,119 shares of the company’s stock after selling 2,572 shares during the period. Sei Investments Co.’s holdings in Revolution Medicines were worth $4,204,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RVMD. American Century Companies Inc. lifted its stake in shares of Revolution Medicines by 11.1% in the 4th quarter. American Century Companies Inc. now owns 641,646 shares of the company’s stock worth $28,066,000 after acquiring an additional 64,238 shares during the period. Quantbot Technologies LP purchased a new position in Revolution Medicines during the fourth quarter worth about $186,000. Virtu Financial LLC acquired a new stake in Revolution Medicines in the fourth quarter valued at about $272,000. Teacher Retirement System of Texas boosted its holdings in Revolution Medicines by 19.6% in the 4th quarter. Teacher Retirement System of Texas now owns 34,632 shares of the company’s stock valued at $1,515,000 after purchasing an additional 5,667 shares in the last quarter. Finally, Xponance Inc. increased its position in Revolution Medicines by 21.4% during the 4th quarter. Xponance Inc. now owns 12,127 shares of the company’s stock worth $530,000 after purchasing an additional 2,140 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Stock Up 2.9 %

Shares of NASDAQ:RVMD opened at $34.60 on Thursday. The company has a market cap of $6.43 billion, a P/E ratio of -9.64 and a beta of 1.46. The business has a fifty day simple moving average of $39.97 and a 200-day simple moving average of $45.42. Revolution Medicines, Inc. has a 52 week low of $29.55 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last posted 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). Sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on RVMD. Stifel Nicolaus decreased their price target on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC decreased their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. UBS Group increased their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. HC Wainwright boosted their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $65.23.

Insider Buying and Selling at Revolution Medicines

In other news, COO Margaret A. Horn sold 3,058 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the transaction, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the transaction, the insider now owns 441,564 shares of the company’s stock, valued at $17,238,658.56. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock valued at $650,406 over the last three months. 8.00% of the stock is owned by company insiders.

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.