Farther Finance Advisors LLC Boosts Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Farther Finance Advisors LLC lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 368.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,051 shares of the company’s stock after purchasing an additional 1,613 shares during the quarter. Farther Finance Advisors LLC’s holdings in Revolution Medicines were worth $90,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc purchased a new position in shares of Revolution Medicines in the 4th quarter worth about $34,000. Quarry LP bought a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $82,000. KBC Group NV lifted its stake in shares of Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Revolution Medicines by 521.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company’s stock valued at $165,000 after acquiring an additional 3,178 shares during the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Revolution Medicines in the 4th quarter valued at about $173,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Performance

RVMD stock opened at $38.11 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $29.55 and a fifty-two week high of $62.40. The business’s 50 day moving average price is $40.55 and its two-hundred day moving average price is $45.70. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of -10.62 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). Sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 11,738 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the sale, the insider now owns 441,564 shares in the company, valued at $17,238,658.56. This represents a 2.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the sale, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock worth $650,406 in the last 90 days. Insiders own 8.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lowered their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Wedbush reissued an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, February 27th. HC Wainwright boosted their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. UBS Group upped their price target on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Guggenheim upped their price target on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Twelve 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.com, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $66.31.

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.