Captrust Financial Advisors Boosts Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Captrust Financial Advisors grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,459 shares of the company’s stock after buying an additional 337 shares during the quarter. Captrust Financial Advisors’ holdings in Revolution Medicines were worth $384,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Farallon Capital Management LLC increased 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 valued at $378,696,000 after purchasing an additional 2,249,820 shares in the last quarter. FMR LLC raised its holdings in shares of Revolution Medicines by 4.4% during the 3rd quarter. FMR LLC now owns 5,875,893 shares of the company’s stock valued at $266,472,000 after buying an additional 250,037 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Revolution Medicines by 58.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after acquiring an additional 653,433 shares in the last quarter. Logos Global Management LP purchased a new position in Revolution Medicines in the 2nd quarter worth approximately $46,572,000. Finally, Hood River Capital Management LLC acquired a new stake in Revolution Medicines in the second quarter valued at approximately $35,472,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on RVMD. Guggenheim raised their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Oppenheimer boosted their price target on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Needham & Company LLC restated a “buy” rating and set a $68.00 price objective on shares of Revolution Medicines in a report on Tuesday, December 3rd. Barclays increased their target price on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, Piper Sandler raised their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $63.67.

Insider Activity

In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of Revolution Medicines stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction of $249,704.00. Following the sale, the director now owns 13,065 shares of the company’s stock, valued at $627,381.30. The trade was a 28.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the transaction, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by company insiders.

Revolution Medicines Stock Up 0.2 %

Shares of NASDAQ:RVMD opened at $45.01 on Friday. The company has a market cap of $7.57 billion, a PE ratio of -12.54 and a beta of 1.40. Revolution Medicines, Inc. has a fifty-two week low of $25.58 and a fifty-two week high of $62.40. The firm has a 50-day simple moving average of $52.38 and a 200 day simple moving average of $45.84.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period last year, the company earned ($0.99) earnings per share. As a group, research analysts forecast that Revolution Medicines, Inc. will post -3.5 EPS for the current fiscal 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.