American Century Companies Inc. Raises Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

American Century Companies Inc. lifted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 11.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 641,646 shares of the company’s stock after buying an additional 64,238 shares during the period. American Century Companies Inc.’s holdings in Revolution Medicines were worth $28,066,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RVMD. Wilmington Savings Fund Society FSB bought a new stake in Revolution Medicines during the third quarter worth approximately $801,000. Citigroup Inc. increased its position in shares of Revolution Medicines by 29.5% during the 3rd quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock valued at $5,348,000 after purchasing an additional 26,871 shares during the last quarter. State Street Corp raised its holdings in Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after buying an additional 208,516 shares during the period. Barclays PLC lifted its position in Revolution Medicines by 187.1% in the third quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after buying an additional 192,021 shares during the last quarter. Finally, FMR LLC boosted its stake in Revolution Medicines by 4.4% during the third quarter. FMR LLC now owns 5,875,893 shares of the company’s stock worth $266,472,000 after buying an additional 250,037 shares during the period. Institutional investors own 94.34% of the company’s stock.

Insider Activity

In related news, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jack Anders sold 1,864 shares of the business’s 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 $72,770.56. Following the completion of the transaction, the chief financial officer now directly owns 115,006 shares of the company’s stock, valued at $4,489,834.24. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,660 shares of company stock worth $650,406. 8.00% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Down 2.0 %

Shares of NASDAQ RVMD opened at $37.35 on Friday. Revolution Medicines, Inc. has a twelve month low of $29.55 and a twelve month high of $62.40. The firm has a market cap of $6.94 billion, a PE ratio of -10.40 and a beta of 1.46. The business has a fifty day simple moving average of $40.32 and a two-hundred day simple moving average of $45.58.

Revolution Medicines (NASDAQ:RVMD) last announced 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). On average, research analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analyst Ratings Changes

RVMD has been the topic of several recent analyst reports. Needham & Company LLC reduced 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 note on Thursday, February 27th. HC Wainwright increased their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. UBS Group boosted their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price target on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus decreased their price target on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Revolution Medicines currently has an average rating of “Buy” and a consensus target price 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.