Daiichi Life Insurance Co. Ltd. acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,523 shares of the company's stock, valued at approximately $1,034,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company's stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares during the period. State of Wyoming bought a new stake in shares of Revolution Medicines in the second quarter valued at approximately $1,769,000. Handelsbanken Fonder AB boosted its stake in shares of Revolution Medicines by 243.6% in the second quarter. Handelsbanken Fonder AB now owns 212,275 shares of the company's stock valued at $39,755,000 after buying an additional 150,500 shares during the period. Eagle Health Investments LP acquired a new stake in Revolution Medicines during the fourth quarter worth approximately $9,231,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Revolution Medicines during the second quarter worth approximately $37,547,000. Institutional investors and hedge funds own 94.34% of the company's stock.
Revolution Medicines Stock Performance
NASDAQ:RVMD opened at $211.58 on Tuesday. The stock's 50-day simple moving average is $189.02 and its 200 day simple moving average is $145.65. The firm has a market capitalization of $45.35 billion, a PE ratio of -23.99 and a beta of 1.39. 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, Inc. has a twelve month low of $35.62 and a twelve month high of $220.34.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued 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 period in the previous year, the business earned ($1.31) earnings per share. On average, analysts anticipate that Revolution Medicines, Inc. will post -8.82 EPS for the current fiscal year.
Insider Buying and Selling at Revolution Medicines
In related news, insider Mark A. Goldsmith sold 10,020 shares of the company's 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 $1,564,322.40. Following the completion of the transaction, the insider directly owned 267,330 shares in the company, valued at $41,735,559.60. This represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the 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 transaction, the director directly owned 21,656 shares of the company's stock, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 132,497 shares of company stock worth $21,470,486 over the last 90 days. 7.60% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
RVMD has been the subject of a number of recent analyst reports. Oppenheimer reiterated an "outperform" rating and set a $230.00 target price on shares of Revolution Medicines in a research report on Thursday, August 6th. Royal Bank Of Canada boosted their price target on Revolution Medicines from $182.00 to $203.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Needham & Company LLC upped their price objective on shares of Revolution Medicines from $236.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Piper Sandler raised their target price on shares of Revolution Medicines to $172.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, Evercore restated an "outperform" rating and issued a $230.00 target price 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 assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $167.89.
Read Our Latest Analysis on Revolution Medicines
About Revolution Medicines
(
Free Report)
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.
See Also
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