Beaumont Financial Advisors LLC Trims Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Beaumont Financial Advisors LLC lessened its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 7.9% during the 4th quarter, Holdings Channel reports. The firm owned 13,738 shares of the company’s stock after selling 1,186 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Revolution Medicines were worth $601,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of RVMD. Sandy Cove Advisors LLC purchased a new stake in Revolution Medicines in the fourth quarter valued at approximately $1,837,000. Avanza Fonder AB acquired a new stake in shares of Revolution Medicines in the fourth quarter worth $173,000. Everence Capital Management Inc. purchased a new position in shares of Revolution Medicines during the fourth quarter worth $203,000. Lord Abbett & CO. LLC acquired a new position in Revolution Medicines during the third quarter valued at $83,082,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Revolution Medicines during the third quarter valued at $801,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,714 shares of the stock in a transaction dated Monday, December 16th. The shares were 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 in the company, valued at approximately $14,757,542.40. This represents a 3.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Margaret A. Horn sold 4,329 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 127,991 shares in the company, valued at approximately $5,810,791.40. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,678 shares of company stock valued at $847,981. 8.00% of the stock is owned by insiders.

Revolution Medicines Stock Up 1.9 %

RVMD stock opened at $40.92 on Thursday. Revolution Medicines, Inc. has a 52 week low of $26.56 and a 52 week high of $62.40. The firm has a 50-day simple moving average of $47.61 and a 200-day simple moving average of $46.80. The stock has a market capitalization of $6.88 billion, a P/E ratio of -11.40 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last posted 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 period in the prior year, the firm posted ($0.99) earnings per share. On average, analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RVMD. Piper Sandler lifted their price objective on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Guggenheim boosted their price target on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. HC Wainwright raised their price objective on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Finally, Wedbush restated an “outperform” rating and set a $70.00 price target on shares of Revolution Medicines in a research report on Monday, December 2nd. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Revolution Medicines has an average rating of “Buy” and a consensus price target of $66.25.

Revolution Medicines Company 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.