Wellington Management Group LLP Has $517.05 Million Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Wellington Management Group LLP lowered its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 16.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,401,394 shares of the company’s stock after selling 2,258,802 shares during the period. Wellington Management Group LLP owned 6.78% of Revolution Medicines worth $517,053,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in RVMD. GAMMA Investing LLC grew its holdings in Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after purchasing an additional 222 shares during the period. Quarry LP acquired a new position in shares of Revolution Medicines during the 3rd quarter worth approximately $82,000. Values First Advisors Inc. bought a new stake in Revolution Medicines in the 3rd quarter valued at $93,000. Nisa Investment Advisors LLC lifted its holdings in Revolution Medicines by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after purchasing an additional 320 shares during the last quarter. Finally, KBC Group NV boosted its position in Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after purchasing an additional 368 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insiders Place Their Bets

In other news, COO Margaret A. Horn sold 50,000 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the completion of the transaction, the chief operating officer now owns 132,320 shares of the company’s stock, valued at approximately $6,660,988.80. This trade represents a 27.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total value of $824,800.34. Following the completion of the sale, the insider now owns 264,408 shares of the company’s stock, valued at $13,085,551.92. The trade was a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by insiders.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $48.07 on Friday. The business has a fifty day moving average price of $52.29 and a two-hundred day moving average price of $45.53. The stock has a market capitalization of $8.09 billion, a PE ratio of -13.39 and a beta of 1.40. Revolution Medicines, Inc. has a fifty-two week low of $23.51 and a fifty-two week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period last year, the company posted ($0.99) earnings per share. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.51 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays raised their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Wedbush restated an “outperform” rating and set a $70.00 price objective on shares of Revolution Medicines in a research report on Monday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Oppenheimer upped their price objective on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $63.67.

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.