Alliancebernstein L.P. Has $10.28 Million Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Alliancebernstein L.P. trimmed its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 6.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 234,929 shares of the company’s stock after selling 15,932 shares during the period. Alliancebernstein L.P.’s holdings in Revolution Medicines were worth $10,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RVMD. Captrust Financial Advisors grew its holdings in Revolution Medicines by 4.1% during the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after purchasing an additional 337 shares during the last quarter. State Street Corp grew its stake in Revolution Medicines by 4.1% in 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 last quarter. Y Intercept Hong Kong Ltd acquired a new position in Revolution Medicines in the 3rd quarter valued at $247,000. Barclays PLC raised its holdings in Revolution Medicines by 187.1% in the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after acquiring an additional 192,021 shares during the period. Finally, Geode Capital Management LLC lifted its position in Revolution Medicines by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company’s stock worth $164,517,000 after acquiring an additional 291,369 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 11,738 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the sale, the insider now owns 441,564 shares of the company’s stock, valued at $17,238,658.56. The trade was a 2.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares in the company, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,660 shares of company stock valued at $650,406. 8.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group lifted their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price target on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Wedbush reissued an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, February 27th. HC Wainwright raised their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $59.00 target price on shares of Revolution Medicines in a research note on Tuesday. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and a consensus target price of $66.67.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $33.67 on Friday. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The firm has a market capitalization of $6.26 billion, a PE ratio of -9.38 and a beta of 1.37. The company’s fifty day moving average price is $38.54 and its two-hundred day moving average price is $44.76.

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

About Revolution Medicines

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.