Revolution Medicines, Inc. $RVMD Shares Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors increased its Revolution Medicines stake by 311.2% in the second quarter, while institutional investors and hedge funds collectively owned 94.34% of the company’s shares.
• Revolution Medicines reported a quarterly loss of $3.06 per share, missing the $2.04 consensus estimate. Insiders have sold 285,587 shares worth approximately $53.2 million over the past three months.
• Analysts remain broadly optimistic, with a “Moderate Buy” consensus rating and an average price target of $226.17, compared with the stock’s reported price of $203.77.

HighTower Advisors LLC increased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 311.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,485 shares of the company's stock after buying an additional 7,935 shares during the period. HighTower Advisors LLC's holdings in Revolution Medicines were worth $1,964,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Equitable Holdings Inc. acquired a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $963,000. State of Wyoming purchased a new stake in Revolution Medicines in the 2nd quarter valued at approximately $1,769,000. Handelsbanken Fonder AB grew its holdings in Revolution Medicines by 243.6% during the 2nd 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 last quarter. Eagle Health Investments LP acquired a new stake in Revolution Medicines during the 4th quarter valued at $9,231,000. Finally, Bank of New York Mellon Corp purchased a new position in Revolution Medicines during the second quarter worth $112,566,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Stock Up 0.2%

RVMD stock opened at $203.77 on Friday. The company has a 50 day moving average price of $198.66 and a two-hundred day moving average price of $156.23. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The stock has a market capitalization of $43.68 billion, a P/E ratio of -23.10 and a beta of 1.40. Revolution Medicines, Inc. has a one year low of $42.18 and a one year high of $224.31.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly 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 period in the prior year, the firm earned ($1.31) earnings per share. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -8.87 EPS for the current year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of Revolution Medicines stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total value 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. The trade was a 20.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction dated 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 sale, the chief financial officer owned 123,269 shares of the company's stock, valued at $20,749,870.77. This trade represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 285,587 shares of company stock valued at $53,173,750. Corporate insiders own 7.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RVMD shares. Guggenheim boosted their price target on Revolution Medicines from $240.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, August 28th. Evercore reaffirmed an "outperform" rating and set a $320.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 27th. Truist Financial lifted their price objective on Revolution Medicines from $231.00 to $239.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Oppenheimer boosted their target price on shares of Revolution Medicines from $230.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Finally, Wolfe Research restated an "outperform" rating and issued a $220.00 target price on shares of Revolution Medicines in a report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Revolution Medicines has an average rating of "Moderate Buy" and a consensus price target of $226.17.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.

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