Vanguard Group Inc. Has $266.94 Million Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Vanguard Group Inc. increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,643,591 shares of the company’s stock after purchasing an additional 303,088 shares during the quarter. Vanguard Group Inc. owned approximately 8.80% of Revolution Medicines worth $266,935,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Revolution Medicines by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock worth $292,646,000 after acquiring an additional 282,786 shares during the last quarter. Deutsche Bank AG grew its holdings in Revolution Medicines by 13.7% during the 3rd quarter. Deutsche Bank AG now owns 53,001 shares of the company’s stock worth $1,467,000 after acquiring an additional 6,378 shares during the last quarter. Walleye Trading LLC bought a new stake in Revolution Medicines during the 3rd quarter worth about $203,000. Walleye Capital LLC bought a new stake in Revolution Medicines during the 3rd quarter worth about $2,644,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Revolution Medicines by 13.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 155,536 shares of the company’s stock worth $4,305,000 after acquiring an additional 18,204 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Activity

In related news, insider Stephen Michael Kelsey sold 3,337 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $29.01, for a total value of $96,806.37. Following the completion of the transaction, the insider now owns 221,632 shares of the company’s stock, valued at $6,429,544.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Stephen Michael Kelsey sold 3,337 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $29.01, for a total value of $96,806.37. Following the completion of the transaction, the insider now owns 221,632 shares of the company’s stock, valued at $6,429,544.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 2,914 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $92,024.12. Following the transaction, the chief operating officer now directly owns 139,553 shares of the company’s stock, valued at approximately $4,407,083.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,887 shares of company stock valued at $422,220. 8.50% of the stock is owned by company insiders.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $32.23 on Friday. The company has a market capitalization of $5.31 billion, a P/E ratio of -8.55 and a beta of 1.53. The company’s 50 day moving average price is $29.90 and its two-hundred day moving average price is $27.16. Revolution Medicines, Inc. has a 52 week low of $15.44 and a 52 week high of $35.60.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The business had revenue of $0.74 million during the quarter, compared to analyst estimates of $1.20 million. Revolution Medicines had a negative net margin of 1,003.36% and a negative return on equity of 38.39%. Revolution Medicines’s revenue for the quarter was down 95.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.63) earnings per share. Analysts forecast that Revolution Medicines, Inc. will post -3.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RVMD. Piper Sandler initiated coverage on shares of Revolution Medicines in a report on Monday, March 11th. They set an “overweight” rating and a $43.00 price objective on the stock. Raymond James raised their target price on shares of Revolution Medicines from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. UBS Group initiated coverage on shares of Revolution Medicines in a research note on Wednesday, December 20th. They issued a “buy” rating and a $40.00 target price on the stock. Wedbush raised their target price on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, Bank of America raised shares of Revolution Medicines from a “neutral” rating to a “buy” rating and raised their target price for the company from $31.00 to $34.00 in a research note on Friday, January 5th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $38.80.

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.