Bessemer Group Inc. Sells 126,205 Shares of Revolution Medicines, Inc. $RVMD

Bessemer Group Inc. lessened its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 51.8% in the fourth quarter, Holdings Channel reports. The firm owned 117,662 shares of the company’s stock after selling 126,205 shares during the quarter. Bessemer Group Inc.’s holdings in Revolution Medicines were worth $9,372,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Indiana Trust & Investment Management Co acquired a new stake in Revolution Medicines during the fourth quarter worth about $32,000. Torren Management LLC acquired a new stake in Revolution Medicines during the fourth quarter worth about $33,000. Darwin Wealth Management LLC acquired a new stake in Revolution Medicines during the fourth quarter worth about $40,000. Allworth Financial LP grew its stake in Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after buying an additional 210 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Revolution Medicines by 33.1% during the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HC Wainwright reiterated a “buy” rating on shares of Revolution Medicines in a research note on Wednesday, April 22nd. Wedbush increased their price objective on shares of Revolution Medicines to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Royal Bank Of Canada increased their price objective on shares of Revolution Medicines to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, Piper Sandler increased their price objective on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $103.88.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $145.66 on Monday. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $155.70. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $118.73 and its two-hundred day moving average price is $98.30. The stock has a market cap of $30.97 billion, a PE ratio of -20.60 and a beta of 1.41.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the previous year, the company posted ($1.13) earnings per share. As a group, analysts expect that Revolution Medicines, Inc. will post -7.75 earnings per share for the current fiscal year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total value of $18,010,800.00. Following the transaction, the insider owned 276,698 shares in the company, valued at $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lin Wei sold 2,073 shares of Revolution Medicines stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $206,222.04. Following the completion of the transaction, the insider owned 101,366 shares in the company, valued at approximately $10,083,889.68. This represents a 2.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 184,592 shares of company stock valued at $24,499,532. Company insiders own 8.20% of the company’s stock.

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.