Eagle Asset Management Inc. Invests $3.27 Million in Revolution Medicines, Inc. (NASDAQ:RVMD)

Eagle Asset Management Inc. acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 72,030 shares of the company’s stock, valued at approximately $3,267,000.

A number of other hedge funds also recently added to or reduced their stakes in RVMD. Sei Investments Co. bought a new position in Revolution Medicines in the first quarter worth approximately $528,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Revolution Medicines by 74.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,646 shares of the company’s stock worth $504,000 after purchasing an additional 6,696 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Revolution Medicines by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,814,310 shares of the company’s stock valued at $155,166,000 after purchasing an additional 177,957 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Revolution Medicines in the first quarter valued at about $338,000. Finally, Janus Henderson Group PLC raised its holdings in Revolution Medicines by 77.9% in the first quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock worth $126,067,000 after purchasing an additional 1,712,639 shares in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Stock Up 1.3 %

Revolution Medicines stock opened at $57.50 on Tuesday. The stock has a 50-day moving average price of $50.80 and a 200 day moving average price of $44.77. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of -16.02 and a beta of 1.40. Revolution Medicines, Inc. has a 52 week low of $20.98 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter last year, the firm earned ($0.99) EPS. Research analysts anticipate that Revolution Medicines, Inc. will post -3.51 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the transaction, the insider now directly owns 300,170 shares in the company, valued at $13,486,638.10. The trade was a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Michael Kelsey sold 16,666 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total transaction of $824,800.34. Following the sale, the insider now owns 264,408 shares in the company, valued at approximately $13,085,551.92. This represents a 5.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RVMD shares. JPMorgan Chase & Co. raised their price target on shares of Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Revolution Medicines in a report on Thursday, August 8th. Guggenheim increased their price objective on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, October 28th. Piper Sandler boosted their target price on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Barclays increased their price target on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $61.00.

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.