Comerica Bank Sells 466,931 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• Comerica Bank cut its stake in Revolution Medicines by 95.3%, selling 466,931 shares and leaving it with 23,285 shares valued at about $1.86 million at the end of the quarter.
• Significant insider selling occurred recently: CFO Jack Anders sold 2,753 shares and Mark A. Goldsmith sold 120,000 shares (≈$18.0M), with insiders disposing of 184,592 shares (≈$24.5M) in the last 90 days while insiders still own 8.20% of the company.
• Shares are trading near their 12‑month high (opened at $151.07 vs a $155.70 high) after the company reported an EPS miss of ($2.29) vs. ($1.83) expected, yet Wall Street consensus remains a Buy with a target price of $78.94.

Comerica Bank trimmed its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 95.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,285 shares of the company's stock after selling 466,931 shares during the period. Comerica Bank's holdings in Revolution Medicines were worth $1,855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Indiana Trust & Investment Management Co bought a new stake in Revolution Medicines in the 4th quarter valued at $32,000. Darwin Wealth Management LLC bought a new stake in Revolution Medicines in the 4th quarter valued at $40,000. Signaturefd LLC increased its holdings in Revolution Medicines by 33.1% in the 4th quarter. Signaturefd LLC now owns 656 shares of the company's stock valued at $52,000 after acquiring an additional 163 shares during the last quarter. CWM LLC increased its holdings in Revolution Medicines by 51.6% in the 4th quarter. CWM LLC now owns 702 shares of the company's stock valued at $56,000 after acquiring an additional 239 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Revolution Medicines by 44.7% in the 4th quarter. Farther Finance Advisors LLC now owns 751 shares of the company's stock valued at $60,000 after acquiring an additional 232 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Jack Anders sold 2,753 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 transaction of $273,868.44. Following the completion of the transaction, the chief financial officer directly owned 125,512 shares of the company's stock, valued at approximately $12,485,933.76. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $18,010,800.00. Following the transaction, the insider directly owned 276,698 shares of the company's stock, valued at approximately $41,529,602.82. This represents a 30.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,592 shares of company stock worth $24,499,532 in the last 90 days. Company insiders own 8.20% of the company's stock.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $151.07 on Thursday. The company's 50-day moving average price is $112.65 and its 200-day moving average price is $93.81. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $155.70. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. The company has a market cap of $32.12 billion, a PE ratio of -25.56 and a beta of 1.41.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted 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 in the previous year, the company posted ($1.13) EPS. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -7.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. UBS Group assumed coverage on shares of Revolution Medicines in a report on Friday, February 27th. They issued a "buy" rating on the stock. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a report on Monday, March 16th. They issued a "buy" rating on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Truist Financial upgraded shares of Revolution Medicines to a "strong-buy" rating in a report on Monday, April 27th. Finally, Stifel Nicolaus reiterated a "buy" rating on shares of Revolution Medicines in a report on Monday, April 20th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $78.94.

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.

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