Hsbc Holdings PLC Trims Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Hsbc Holdings PLC reduced its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 269,294 shares of the company’s stock after selling 11,328 shares during the period. Hsbc Holdings PLC owned approximately 0.16% of Revolution Medicines worth $11,777,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. IFP Advisors Inc acquired a new stake in shares of Revolution Medicines in the 4th quarter worth $34,000. Sterling Capital Management LLC raised its holdings in Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after purchasing an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after purchasing an additional 1,613 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Revolution Medicines by 521.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company’s stock valued at $165,000 after purchasing an additional 3,178 shares in the last quarter. Finally, Avanza Fonder AB purchased a new position in shares of Revolution Medicines during the 4th quarter worth approximately $173,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Revolution Medicines

In other news, CFO Jack Anders sold 1,864 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the chief operating officer now owns 153,533 shares of the company’s stock, valued at $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,660 shares of company stock valued at $650,406. 8.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RVMD has been the topic of a number of analyst reports. 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. Wedbush reiterated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. HC Wainwright boosted their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. UBS Group increased their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $59.00 price target on shares of Revolution Medicines in a research note on Tuesday, April 8th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Revolution Medicines has an average rating of “Buy” and a consensus target price of $66.67.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $38.77 on Monday. The business has a 50 day moving average price of $37.43 and a 200 day moving average price of $44.01. The company has a market capitalization of $7.21 billion, a P/E ratio of -10.80 and a beta of 1.37. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). As a group, research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

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.