Eagle Asset Management Inc. Acquires Shares of 72,030 Revolution Medicines, Inc. (NASDAQ:RVMD)

Eagle Asset Management Inc. acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 72,030 shares of the company's stock, valued at approximately $3,267,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RVMD. GAMMA Investing LLC boosted its holdings in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company's stock worth $28,000 after purchasing an additional 222 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company's stock worth $131,000 after buying an additional 320 shares in the last quarter. Amalgamated Bank grew its position in Revolution Medicines by 7.4% during the second quarter. Amalgamated Bank now owns 5,272 shares of the company's stock valued at $205,000 after acquiring an additional 365 shares during the last quarter. KBC Group NV raised its stake in shares of Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company's stock worth $146,000 after acquiring an additional 368 shares in the last quarter. Finally, Clear Harbor Asset Management LLC lifted its holdings in shares of Revolution Medicines by 10.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company's stock worth $436,000 after acquiring an additional 1,036 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Insiders Place Their Bets

In other Revolution Medicines news, insider Mark A. Goldsmith sold 30,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 300,170 shares of the company's stock, valued at approximately $15,116,561.20. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Margaret A. Horn sold 50,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the transaction, the chief operating officer now owns 132,320 shares of the company's stock, valued at $6,660,988.80. The trade was a 27.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,866 shares of company stock worth $6,355,624. Company insiders own 8.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RVMD shares. Wedbush reaffirmed an "outperform" rating and set a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. Guggenheim lifted their price objective on Revolution Medicines from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Oppenheimer increased their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Monday, October 28th. Barclays lifted their price target on Revolution Medicines from $54.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, September 27th. Finally, Needham & Company LLC increased their price objective on Revolution Medicines from $61.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Eleven investment 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, Revolution Medicines currently has an average rating of "Buy" and an average target price of $61.00.

Revolution Medicines Price Performance

Revolution Medicines stock traded up $1.13 during mid-day trading on Tuesday, reaching $58.63. 764,233 shares of the company traded hands, compared to its average volume of 1,333,641. 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 $9.86 billion, a price-to-earnings ratio of -16.33 and a beta of 1.40. The firm's 50 day moving average price is $51.10 and its 200 day moving average price is $44.92.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.05). During the same quarter in the previous year, the company earned ($0.99) EPS. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.51 EPS for the current year.

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.