Ritholtz Wealth Management Takes $362,000 Position in Revolution Medicines, Inc. $RVMD

Ritholtz Wealth Management bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,725 shares of the company’s stock, valued at approximately $362,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Indiana Trust & Investment Management Co purchased a new stake in Revolution Medicines in the 4th quarter worth $32,000. Global Retirement Partners LLC lifted its holdings in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at about $33,000. Arax Advisory Partners acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at about $38,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Revolution Medicines during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction of $1,048,984.20. Following the completion of the transaction, the director directly owned 21,656 shares in the company, valued at approximately $4,071,111.44. This represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark A. Goldsmith sold 120,000 shares of the firm’s 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 sale, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 252,497 shares of company stock worth $39,481,286. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RVMD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Royal Bank Of Canada lifted their price target on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. HC Wainwright lifted their price target on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Finally, Oppenheimer boosted their price target on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Revolution Medicines has a consensus rating of “Buy” and an average target price of $134.50.

Revolution Medicines Trading Up 0.1%

RVMD opened at $187.51 on Thursday. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $193.10. The stock has a market capitalization of $39.86 billion, a PE ratio of -26.52 and a beta of 1.37. The business’s 50 day moving average price is $154.24 and its 200 day moving average price is $119.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the prior year, the business earned ($1.13) earnings per share. As a group, equities research analysts expect that Revolution Medicines, Inc. will post -7.94 EPS 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.