Jefferies Financial Group Inc. Buys New Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Jefferies Financial Group Inc. bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,725 shares of the company’s stock, valued at approximately $994,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Ensign Peak Advisors Inc lifted its position in Revolution Medicines by 667.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 305,172 shares of the company’s stock valued at $13,348,000 after acquiring an additional 265,389 shares during the last quarter. Farallon Capital Management LLC increased its stake in Revolution Medicines by 17.1% during the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock valued at $579,498,000 after purchasing an additional 1,931,000 shares in the last quarter. Deutsche Bank AG increased its stake in Revolution Medicines by 57.8% during the 4th quarter. Deutsche Bank AG now owns 177,383 shares of the company’s stock valued at $7,759,000 after purchasing an additional 64,997 shares in the last quarter. DAFNA Capital Management LLC increased its stake in Revolution Medicines by 21.9% during the 4th quarter. DAFNA Capital Management LLC now owns 631,176 shares of the company’s stock valued at $27,608,000 after purchasing an additional 113,182 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C increased its stake in Revolution Medicines by 11.9% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 3,258,332 shares of the company’s stock valued at $142,519,000 after purchasing an additional 345,640 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jack Anders sold 1,864 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now directly owns 115,006 shares of the company’s stock, valued at approximately $4,489,834.24. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares in the company, valued at approximately $5,993,928.32. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,660 shares of company stock valued at $650,406. Corporate insiders own 8.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Oppenheimer upped their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Wedbush restated an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, May 8th. Stifel Nicolaus cut their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Guggenheim cut their price target on shares of Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $57.00 price target on shares of Revolution Medicines in a research note on Thursday, May 8th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $67.08.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $39.44 on Friday. The company’s fifty day moving average price is $37.48 and its 200 day moving average price is $43.25. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $62.40. The company has a market capitalization of $7.35 billion, a PE ratio of -10.99 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same period in the previous year, the firm earned ($0.70) EPS. On average, equities analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

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.