Corient Private Wealth LP Takes $1.52 Million Position in Revolution Medicines, Inc. $RVMD

Corient Private Wealth LP bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 2nd quarter, Holdings Channel.com reports. The firm bought 8,137 shares of the company’s stock, valued at approximately $1,523,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RVMD. Contravisory Investment Management Inc. acquired a new position in Revolution Medicines during the second quarter worth approximately $32,000. Global Retirement Partners LLC lifted its position in shares of Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Revolution Medicines in the second quarter valued at approximately $37,000. Arax Advisory Partners bought a new position in shares of Revolution Medicines during the 4th quarter worth approximately $38,000. Finally, Silvant Capital Management LLC bought a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $41,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Up 0.8%

Shares of NASDAQ:RVMD opened at $210.87 on Friday. Revolution Medicines, Inc. has a 12-month low of $38.49 and a 12-month high of $224.31. The stock has a market cap of $45.20 billion, a PE ratio of -23.91 and a beta of 1.40. The business has a 50 day moving average of $196.37 and a 200-day moving average of $152.11. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the business earned ($1.31) earnings per share. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -8.84 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In related news, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the sale, the chief financial officer directly owned 123,269 shares in the company, valued at $20,749,870.77. The trade was a 13.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Margaret Horn sold 29,600 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the transaction, the chief operating officer directly owned 154,647 shares in the company, valued at approximately $24,762,077.64. This represents a 16.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 268,497 shares of company stock worth $49,587,926 in the last 90 days. Company insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial boosted their target price on Revolution Medicines from $231.00 to $239.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $248.00 price target on shares of Revolution Medicines in a report on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Wolfe Research reiterated an “outperform” rating and issued a $220.00 price objective on shares of Revolution Medicines in a report on Monday, August 10th. Finally, Wedbush increased their price objective on shares of Revolution Medicines from $201.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.74.

About Revolution Medicines

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.