American Century Companies Inc. Trims Position in Revolution Medicines, Inc. $RVMD

American Century Companies Inc. cut its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 38.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 454,572 shares of the company’s stock after selling 287,288 shares during the period. American Century Companies Inc.’s holdings in Revolution Medicines were worth $16,724,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Nextech Invest Ltd. grew its stake in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after acquiring an additional 1,304,347 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Revolution Medicines by 37.4% in the 1st quarter. Mackenzie Financial Corp now owns 8,321 shares of the company’s stock worth $294,000 after purchasing an additional 2,266 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Revolution Medicines by 349.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company’s stock valued at $160,000 after purchasing an additional 3,518 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Revolution Medicines by 18,248.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,064,046 shares of the company’s stock valued at $37,625,000 after purchasing an additional 1,058,247 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Revolution Medicines by 51.9% during the 1st quarter. Headlands Technologies LLC now owns 12,638 shares of the company’s stock valued at $447,000 after purchasing an additional 4,320 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RVMD has been the topic of a number of recent analyst reports. Lifesci Capital started coverage on Revolution Medicines in a research report on Monday, August 18th. They issued an “outperform” rating and a $80.00 price objective on the stock. HC Wainwright boosted their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Mizuho began coverage on Revolution Medicines in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $90.00 target price on the stock. Wedbush raised their price target on Revolution Medicines from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. lifted their price target on Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and an average target price of $78.50.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 4,775 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $218,790.50. Following the completion of the sale, the chief operating officer owned 145,900 shares in the company, valued at approximately $6,685,138. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 60,000 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $75.08, for a total value of $4,504,800.00. Following the completion of the sale, the insider owned 247,863 shares in the company, valued at approximately $18,609,554.04. This represents a 19.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 308,033 shares of company stock valued at $17,078,322 in the last 90 days. Insiders own 8.20% of the company’s stock.

Revolution Medicines Price Performance

RVMD stock opened at $75.31 on Wednesday. The firm’s 50-day moving average price is $58.34 and its two-hundred day moving average price is $45.79. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $78.17. The stock has a market capitalization of $14.56 billion, a price-to-earnings ratio of -14.57 and a beta of 0.96. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same period in the prior year, the firm posted ($0.94) EPS. As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

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.