HB Wealth Management LLC Makes New Investment in Revolution Medicines, Inc. $RVMD

HB Wealth Management LLC acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the first quarter, Holdings Channel.com reports. The firm acquired 3,110 shares of the company’s stock, valued at approximately $302,000.

Several other institutional investors and hedge funds have also modified their holdings of RVMD. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in Revolution Medicines in the first quarter valued at $4,561,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Revolution Medicines during the 1st quarter worth about $878,000. IFM Investors Pty Ltd purchased a new stake in shares of Revolution Medicines during the 1st quarter worth about $2,802,000. Janney Montgomery Scott LLC purchased a new stake in shares of Revolution Medicines during the 1st quarter worth about $240,000. Finally, Citrine Capital LLC acquired a new stake in shares of Revolution Medicines during the 1st quarter valued at about $243,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Down 1.6%

Shares of NASDAQ RVMD opened at $183.95 on Tuesday. The stock has a market cap of $39.11 billion, a PE ratio of -26.02 and a beta of 1.37. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $193.82. The company has a 50-day moving average of $162.03 and a 200 day moving average of $125.51.

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

Wall Street Analyst Weigh In

RVMD has been the topic of several research analyst reports. Mizuho raised their price objective on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a 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 research note on Thursday, July 2nd. Royal Bank Of Canada increased their target price on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday, June 2nd. Piper Sandler lifted their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Evercore reissued an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.00.

Insider Buying and Selling at Revolution Medicines

In other news, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the sale, the director owned 21,656 shares in the company, valued at $4,071,111.44. This trade represents a 20.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the sale, the insider directly owned 291,876 shares in the company, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 252,497 shares of company stock worth $39,481,286. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Company 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.