Citizens Financial Group Inc. RI Buys New Position in Revolution Medicines, Inc. $RVMD

Citizens Financial Group Inc. RI purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,036 shares of the company's stock, valued at approximately $13,865,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RVMD. Meeder Advisory Services Inc. boosted its holdings in Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company's stock worth $401,000 after acquiring an additional 120 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock valued at $802,000 after purchasing an additional 125 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Revolution Medicines by 0.4% during the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company's stock valued at $2,566,000 after purchasing an additional 130 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Revolution Medicines during the second quarter valued at about $32,000. Finally, Allworth Financial LP boosted its holdings 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 purchasing an additional 210 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 10,020 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 value of $1,564,322.40. Following the sale, the insider owned 267,330 shares of the company's stock, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the transaction, the chief financial officer owned 123,269 shares in the company, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 132,497 shares of company stock worth $21,470,486 in the last three months. Insiders own 7.60% of the company's stock.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $212.00 on Tuesday. The company has a market capitalization of $45.44 billion, a PE ratio of -24.04 and a beta of 1.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. Revolution Medicines, Inc. has a 52-week low of $35.42 and a 52-week high of $215.97. The company has a 50-day simple moving average of $182.89 and a 200 day simple moving average of $141.58.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same quarter in the previous year, the firm posted ($1.31) EPS. On average, research analysts predict that Revolution Medicines, Inc. will post -8.82 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Revolution Medicines in a research note on Friday, July 17th. Guggenheim boosted their target price on Revolution Medicines from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Needham & Company LLC upped their target price on Revolution Medicines from $236.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Mizuho upped their target price on Revolution Medicines from $185.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, July 6th. Finally, Evercore reaffirmed an "outperform" rating and set a $230.00 price target on shares of Revolution Medicines in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of "Moderate Buy" and an average price target of $166.33.

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.

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