Jefferies Financial Group Inc. Takes Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Jefferies Financial Group Inc. purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 22,725 shares of the company's stock, valued at approximately $994,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RVMD. Ensign Peak Advisors Inc lifted its stake in Revolution Medicines by 667.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 305,172 shares of the company's stock valued at $13,348,000 after buying an additional 265,389 shares during the period. Farallon Capital Management LLC increased its stake in shares of Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after acquiring an additional 1,931,000 shares during the last quarter. Deutsche Bank AG raised its position in shares of Revolution Medicines by 57.8% in the 4th quarter. Deutsche Bank AG now owns 177,383 shares of the company's stock valued at $7,759,000 after acquiring an additional 64,997 shares during the period. DAFNA Capital Management LLC boosted 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 worth $27,608,000 after acquiring an additional 113,182 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C grew its holdings in Revolution Medicines by 11.9% during the fourth 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 during the period. 94.34% of the stock is currently owned by institutional investors.

Insider Activity at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 11,738 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the transaction, the insider now directly owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 3,058 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the transaction, the chief operating officer now owns 153,533 shares in the company, valued at approximately $5,993,928.32. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,660 shares of company stock valued at $650,406. 8.20% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Revolution Medicines Stock Up 1.0%

Shares of RVMD stock traded up $0.39 during trading on Monday, reaching $39.93. The company's stock had a trading volume of 946,949 shares, compared to its average volume of 1,496,365. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The business has a fifty day moving average price of $37.49 and a 200-day moving average price of $43.05. The company has a market cap of $7.44 billion, a price-to-earnings ratio of -11.12 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter in the previous year, the business posted ($0.70) EPS. Research analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

About Revolution Medicines

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.