Bessemer Group Inc. Has $4.67 Million Holdings in Revolution Medicines, Inc. $RVMD

Bessemer Group Inc. lessened its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 59.2% in the first quarter, Holdings Channel.com reports. The firm owned 48,062 shares of the company’s stock after selling 69,600 shares during the period. Bessemer Group Inc.’s holdings in Revolution Medicines were worth $4,675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after buying an additional 1,056,792 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Revolution Medicines by 194.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after buying an additional 14,062 shares during the last quarter. Mass General Brigham Inc bought a new stake in Revolution Medicines in the 4th quarter valued at approximately $27,407,000. Eagle Health Investments LP bought a new stake in Revolution Medicines in the 4th quarter valued at approximately $9,231,000. Finally, M&T Bank Corp acquired a new position in Revolution Medicines during the 4th quarter worth approximately $52,723,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insiders Place Their Bets

In other Revolution Medicines news, COO Margaret A. Horn sold 29,600 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total value of $4,739,552.00. Following the transaction, the chief operating officer directly owned 154,647 shares of the company’s stock, valued at $24,762,077.64. This represents a 16.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the transaction, the director owned 21,656 shares in the company, valued at $4,071,111.44. The trade was a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 132,497 shares of company stock worth $21,470,486 over the last three months. 7.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RVMD shares. Needham & Company LLC raised their price target on shares of Revolution Medicines from $235.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho lifted their target price on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Wedbush upped their target price on Revolution Medicines from $165.00 to $181.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Piper Sandler increased their price target on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Evercore restated an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $144.06.

Revolution Medicines Trading Down 3.1%

Shares of RVMD stock opened at $180.39 on Tuesday. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $193.82. The company has a market capitalization of $38.35 billion, a PE ratio of -25.51 and a beta of 1.37. The firm has a 50 day moving average price of $165.80 and a two-hundred day moving average price of $129.09. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the prior year, the business earned ($1.13) earnings per share. As a group, analysts predict that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.

Revolution Medicines Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.