42,008 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Acquired by Sandy Cove Advisors LLC

Sandy Cove Advisors LLC purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, HoldingsChannel reports. The fund purchased 42,008 shares of the company’s stock, valued at approximately $1,837,000. Revolution Medicines accounts for 0.7% of Sandy Cove Advisors LLC’s investment portfolio, making the stock its 24th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Revolution Medicines in the 3rd quarter worth $801,000. Citigroup Inc. boosted its stake in shares of Revolution Medicines by 29.5% during the 3rd quarter. Citigroup Inc. now owns 117,938 shares of the company’s stock valued at $5,348,000 after buying an additional 26,871 shares during the period. State Street Corp grew its holdings in shares of Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after acquiring an additional 208,516 shares in the last quarter. Barclays PLC increased its position in Revolution Medicines by 187.1% in the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock worth $13,362,000 after purchasing an additional 192,021 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Revolution Medicines by 58.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock valued at $79,957,000 after acquiring an additional 653,433 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

RVMD has been the topic of a number of analyst reports. Barclays increased their price objective on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Guggenheim raised their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Needham & Company LLC restated a “buy” rating and set a $68.00 price target on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Oppenheimer upped their price objective on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Wedbush restated an “outperform” rating and set a $70.00 target price on shares of Revolution Medicines in a research report on Monday, December 2nd. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and an average target price of $66.25.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,714 shares of the firm’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 $531,815.60. Following the completion of the transaction, the insider now directly owns 325,056 shares in the company, valued at $14,757,542.40. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thilo Schroeder purchased 1,304,347 shares of the stock in a transaction on Thursday, December 5th. The shares were bought at an average cost of $46.00 per share, for a total transaction of $59,999,962.00. Following the transaction, the director now directly owns 2,096,612 shares in the company, valued at approximately $96,444,152. The trade was a 164.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 18,678 shares of company stock valued at $847,981. 8.00% of the stock is owned by corporate insiders.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $40.29 on Friday. The stock has a fifty day moving average of $48.40 and a 200-day moving average of $46.62. Revolution Medicines, Inc. has a 52 week low of $25.93 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period last year, the company earned ($0.99) EPS. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.5 earnings per share for the current fiscal 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.