Wedmont Private Capital Cuts Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Wedmont Private Capital trimmed its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,000 shares of the company’s stock after selling 7,600 shares during the period. Wedmont Private Capital’s holdings in Revolution Medicines were worth $1,671,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RVMD. GAMMA Investing LLC boosted its holdings in shares of Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares in the last quarter. Quarry LP purchased a new stake in Revolution Medicines in the 3rd quarter valued at approximately $82,000. Values First Advisors Inc. acquired a new position in Revolution Medicines during the 3rd quarter worth approximately $93,000. KBC Group NV raised its stake in shares of Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after buying an additional 368 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $203,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RVMD. Needham & Company LLC reissued a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a report on Tuesday, December 3rd. Guggenheim boosted their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Revolution Medicines in a report on Monday, December 2nd. HC Wainwright lifted their price target on shares of Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, UBS Group upped their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $66.25.

Insider Transactions at Revolution Medicines

In other news, CFO Jack Anders sold 2,635 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the completion of the sale, the chief financial officer now directly owns 96,470 shares of the company’s stock, valued at $4,379,738. The trade was a 2.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Margaret A. Horn sold 4,329 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the completion of the transaction, the chief operating officer now directly owns 127,991 shares in the company, valued at $5,810,791.40. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,678 shares of company stock worth $847,981 in the last three months. Company insiders own 8.00% of the company’s stock.

Revolution Medicines Trading Up 1.9 %

Revolution Medicines stock opened at $42.57 on Tuesday. The stock has a market cap of $7.16 billion, a PE ratio of -11.86 and a beta of 1.46. Revolution Medicines, Inc. has a 52 week low of $25.93 and a 52 week high of $62.40. The stock has a 50-day moving average price of $49.91 and a 200 day moving average price of $46.70.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter last year, the firm earned ($0.99) earnings per share. On average, equities analysts predict that Revolution Medicines, Inc. will post -3.5 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.