14,924 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Bought by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC acquired a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,924 shares of the company’s stock, valued at approximately $428,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP increased its stake in Revolution Medicines by 2.7% in the third quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock valued at $292,646,000 after acquiring an additional 282,786 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Revolution Medicines by 3.2% during the third quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock valued at $266,935,000 after buying an additional 303,088 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Revolution Medicines during the third quarter valued at about $2,644,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Revolution Medicines by 45.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,405 shares of the company’s stock valued at $2,306,000 after buying an additional 25,160 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Revolution Medicines by 392.5% during the third quarter. Victory Capital Management Inc. now owns 342,359 shares of the company’s stock valued at $9,476,000 after buying an additional 272,848 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Jeff Cislini sold 1,252 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the transaction, the general counsel now directly owns 55,874 shares in the company, valued at $1,764,500.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Jeff Cislini sold 1,252 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the transaction, the general counsel now directly owns 55,874 shares in the company, valued at $1,764,500.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Margaret A. Horn sold 2,914 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $92,024.12. Following the transaction, the chief operating officer now owns 139,553 shares of the company’s stock, valued at $4,407,083.74. The disclosure for this sale can be found here. Insiders sold 20,205 shares of company stock worth $671,249 over the last three months. Company insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the topic of a number of recent research reports. Piper Sandler initiated coverage on Revolution Medicines in a research note on Monday, March 11th. They set an “overweight” rating and a $43.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $46.00 target price (up from $36.00) on shares of Revolution Medicines in a research note on Monday, April 8th. Raymond James raised Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $36.00 to $48.00 in a research note on Wednesday, April 10th. Oppenheimer raised their target price on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Finally, Bank of America raised Revolution Medicines from a “neutral” rating to a “buy” rating and raised their target price for the stock from $31.00 to $34.00 in a research note on Friday, January 5th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Revolution Medicines currently has an average rating of “Buy” and an average target price of $41.20.

Revolution Medicines Price Performance

Shares of RVMD opened at $34.92 on Friday. Revolution Medicines, Inc. has a one year low of $15.44 and a one year high of $38.73. The company has a 50-day simple moving average of $31.70 and a two-hundred day simple moving average of $27.61. The firm has a market capitalization of $5.75 billion, a PE ratio of -9.26 and a beta of 1.54.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The business had revenue of $0.74 million for the quarter, compared to analyst estimates of $1.20 million. During the same period in the previous year, the business earned ($0.63) EPS. Revolution Medicines’s revenue for the quarter was down 95.2% compared to the same quarter last year. Analysts expect that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal 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.