Bank of America Corp DE Has $17.54 Million Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Bank of America Corp DE lessened its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 401,043 shares of the company’s stock after selling 27,075 shares during the quarter. Bank of America Corp DE owned about 0.24% of Revolution Medicines worth $17,542,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in RVMD. Boxer Capital Management LLC bought a new stake in shares of Revolution Medicines during the 4th quarter worth $187,184,000. Vanguard Group Inc. raised its holdings in Revolution Medicines by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock worth $747,799,000 after acquiring an additional 2,185,082 shares during the period. Norges Bank acquired a new position in Revolution Medicines during the 4th quarter worth $76,197,000. FMR LLC lifted its position in Revolution Medicines by 14.7% during the 4th quarter. FMR LLC now owns 6,742,083 shares of the company’s stock worth $294,899,000 after acquiring an additional 866,190 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in shares of Revolution Medicines by 4,399.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 712,596 shares of the company’s stock valued at $31,169,000 after purchasing an additional 696,759 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Buying and Selling

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of the stock in a transaction 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 sale, the chief operating officer now owns 153,533 shares in the company, valued at $5,993,928.32. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jack Anders sold 1,864 shares of the firm’s 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 $72,770.56. Following the completion of the transaction, the chief financial officer now owns 115,006 shares of the company’s stock, valued at $4,489,834.24. This trade represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 over the last ninety days. 8.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RVMD shares. Guggenheim cut their price objective on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Oppenheimer increased their target price on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. HC Wainwright reissued a “buy” rating and issued a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. 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, April 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price objective on shares of Revolution Medicines in a research note on Thursday, May 8th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $67.08.

Revolution Medicines Trading Up 1.4%

NASDAQ RVMD opened at $40.47 on Wednesday. The company has a 50 day moving average of $37.53 and a 200-day moving average of $42.93. The company has a market cap of $7.54 billion, a price-to-earnings ratio of -11.27 and a beta of 1.11. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same quarter in the previous year, the business earned ($0.70) earnings per share. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current 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.