Beaumont Financial Advisors LLC Sells 1,186 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Beaumont Financial Advisors LLC decreased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,738 shares of the company’s stock after selling 1,186 shares during the period. Beaumont Financial Advisors LLC’s holdings in Revolution Medicines were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Revolution Medicines during the 3rd quarter valued at about $801,000. Citigroup Inc. lifted its stake in shares of Revolution Medicines by 29.5% during the 3rd quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock worth $5,348,000 after acquiring an additional 26,871 shares during the last quarter. State Street Corp boosted its holdings in Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after acquiring an additional 208,516 shares during the period. Barclays PLC grew its position in Revolution Medicines by 187.1% in the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock valued at $13,362,000 after acquiring an additional 192,021 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Revolution Medicines by 58.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after purchasing an additional 653,433 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RVMD shares. Needham & Company LLC restated a “buy” rating and issued a $68.00 price target on shares of Revolution Medicines in a report on Tuesday, December 3rd. Oppenheimer raised their target price on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Piper Sandler increased their price objective on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wedbush restated an “outperform” rating and set a $70.00 price objective on shares of Revolution Medicines in a report on Monday, December 2nd. Finally, UBS Group increased their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $66.25.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,714 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the completion of the sale, the insider now owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thilo Schroeder purchased 1,304,347 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were acquired at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the purchase, the director now directly owns 2,096,612 shares of the company’s stock, valued at approximately $96,444,152. The trade was a 164.64 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 18,678 shares of company stock valued at $847,981. Corporate insiders own 8.00% of the company’s stock.

Revolution Medicines Price Performance

RVMD opened at $40.92 on Thursday. The firm has a market capitalization of $6.88 billion, a PE ratio of -11.40 and a beta of 1.46. The business’s 50-day moving average is $47.61 and its two-hundred day moving average is $46.80. Revolution Medicines, Inc. has a 1 year low of $26.56 and a 1 year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the previous year, the firm earned ($0.99) EPS. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

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.