Beaumont Financial Advisors LLC Takes $428,000 Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Beaumont Financial Advisors LLC bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 14,924 shares of the company’s stock, valued at approximately $428,000.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Revolution Medicines by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock valued at $292,646,000 after purchasing an additional 282,786 shares during the last quarter. Vanguard Group Inc. grew its holdings in Revolution Medicines by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock valued at $266,935,000 after purchasing an additional 303,088 shares during the last quarter. Walleye Capital LLC bought a new position in Revolution Medicines during the 3rd quarter valued at about $2,644,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Revolution Medicines by 45.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,405 shares of the company’s stock valued at $2,306,000 after purchasing an additional 25,160 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Revolution Medicines by 392.5% during the 3rd quarter. Victory Capital Management Inc. now owns 342,359 shares of the company’s stock valued at $9,476,000 after purchasing an additional 272,848 shares during the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Stephen Michael Kelsey sold 2,123 shares of the 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 $67,044.34. Following the transaction, the insider now directly owns 270,909 shares in the company, valued at $8,555,306.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Sushil Patel sold 2,155 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $37.00, for a total transaction of $79,735.00. Following the completion of the sale, the director now owns 15,700 shares of the company’s stock, valued at $580,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 2,123 shares of the 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 $67,044.34. Following the sale, the insider now directly owns 270,909 shares of the company’s stock, valued at approximately $8,555,306.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,205 shares of company stock worth $671,249. Corporate insiders own 8.50% of the company’s stock.

Revolution Medicines Price Performance

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

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The firm had revenue of $0.74 million for the quarter, compared to analysts’ expectations of $1.20 million. During the same quarter in the previous year, the company posted ($0.63) EPS. The business’s quarterly revenue was down 95.2% on a year-over-year basis. On average, research analysts expect that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on RVMD. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $36.00 to $48.00 in a report on Wednesday, April 10th. Piper Sandler began coverage on shares of Revolution Medicines in a report on Monday, March 11th. They set an “overweight” rating and a $43.00 price target on the stock. Wedbush upped their price target on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Oppenheimer upped their price target on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, Needham & Company LLC restated 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. Nine equities research 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, the stock has an average rating of “Buy” and a consensus target price of $41.20.

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.