72,030 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Acquired by Eagle Asset Management Inc.

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

A number of other hedge funds have also modified their holdings of the company. Farallon Capital Management LLC boosted its holdings in Revolution Medicines by 30.0% in the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock worth $378,696,000 after buying an additional 2,249,820 shares during the period. Janus Henderson Group PLC boosted its stake in shares of 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 acquiring an additional 1,712,639 shares during the period. Logos Global Management LP purchased a new stake in shares of Revolution Medicines during the second quarter worth about $46,572,000. Hood River Capital Management LLC bought a new stake in Revolution Medicines during the 2nd quarter valued at approximately $35,472,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Revolution Medicines by 58.9% in the 3rd 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 in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Stock Up 1.3 %

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

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results 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 period in the previous year, the firm earned ($0.99) EPS. Equities research analysts anticipate that Revolution Medicines, Inc. will post -3.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Guggenheim boosted their price target on shares of Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Wedbush restated an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Needham & Company LLC boosted their target price on Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, HC Wainwright raised their price target on Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Revolution Medicines presently has an average rating of “Buy” and an average price target of $61.00.

Insider Activity

In other news, insider Mark A. Goldsmith sold 30,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the completion of the sale, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $15,116,561.20. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Michael Kelsey sold 16,666 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the transaction, the insider now owns 264,408 shares in the company, valued at approximately $13,085,551.92. The trade was a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by insiders.

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.