Sei Investments Co. Boosts Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Sei Investments Co. grew its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 175.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,149 shares of the company’s stock after purchasing an additional 28,778 shares during the period. Sei Investments Co.’s holdings in Revolution Medicines were worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in RVMD. Headlands Technologies LLC lifted its holdings in Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after acquiring an additional 885 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Revolution Medicines in the first quarter valued at approximately $104,000. EntryPoint Capital LLC acquired a new position in Revolution Medicines in the first quarter valued at approximately $107,000. Nisa Investment Advisors LLC lifted its holdings in Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after acquiring an additional 320 shares during the last quarter. Finally, Natixis acquired a new position in Revolution Medicines in the first quarter valued at approximately $196,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group assumed coverage on Revolution Medicines in a report on Monday, July 8th. They issued a “buy” rating and a $63.00 price objective on the stock. Barclays upped 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. Oppenheimer upped their price target on Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Needham & Company LLC decreased their price target on Revolution Medicines from $62.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased their price target on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $54.00.

Revolution Medicines Trading Up 2.6 %

Revolution Medicines stock opened at $47.32 on Friday. Revolution Medicines, Inc. has a twelve month low of $15.44 and a twelve month high of $48.61. The stock’s fifty day simple moving average is $43.69 and its 200-day simple moving average is $40.09. The firm has a market capitalization of $7.90 billion, a P/E ratio of -12.62 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The firm had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.81 million. During the same quarter in the prior year, the company earned ($0.92) earnings per share. The company’s revenue for the quarter was down 73.8% on a year-over-year basis. Sell-side analysts predict that Revolution Medicines, Inc. will post -3.35 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 25,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $45.05, for a total value of $1,126,250.00. Following the transaction, the insider now owns 311,885 shares of the company’s stock, valued at $14,050,419.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Stephen Michael Kelsey sold 16,667 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $46.47, for a total value of $774,515.49. Following the transaction, the insider now owns 269,073 shares of the company’s stock, valued at $12,503,822.31. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 25,000 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $45.05, for a total value of $1,126,250.00. Following the completion of the transaction, the insider now directly owns 311,885 shares in the company, valued at $14,050,419.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,221 shares of company stock valued at $3,001,637. 8.00% of the stock is currently owned by company insiders.

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.