State of Wyoming Buys Shares of 9,446 Revolution Medicines, Inc. $RVMD

Key Points

• Wyoming opened a new position in Revolution Medicines, purchasing 9,446 shares valued at approximately $1.77 million. Institutional investors and hedge funds collectively own 94.34% of RVMD.
• Revolution Medicines reported a quarterly loss of $3.06 per share, missing the $2.04 consensus estimate. Analysts expect a full-year loss of $8.82 per share.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and recent price-target increases, although the consensus target of $161.79 is below the stock’s reported $203.71 price.

State of Wyoming bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,446 shares of the company's stock, valued at approximately $1,769,000.

A number of other institutional investors and hedge funds have also made changes to their positions in RVMD. Global Retirement Partners LLC boosted its position in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company's stock valued at $32,000 after purchasing an additional 361 shares during the period. Contravisory Investment Management Inc. acquired a new stake in Revolution Medicines in the second quarter worth $32,000. Torren Management LLC acquired a new stake in Revolution Medicines in the fourth quarter worth $33,000. Arax Advisory Partners bought a new stake in Revolution Medicines in the fourth quarter valued at $38,000. Finally, Allworth Financial LP lifted its stake in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company's stock valued at $46,000 after buying an additional 210 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $203.71 on Friday. The stock has a market cap of $43.66 billion, a price-to-earnings ratio of -23.10 and a beta of 1.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. Revolution Medicines, Inc. has a 12 month low of $35.42 and a 12 month high of $208.76. The stock's 50 day moving average price is $181.62 and its 200 day moving average price is $140.49.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same quarter in the previous year, the company earned ($1.31) earnings per share. Equities research analysts anticipate that Revolution Medicines, Inc. will post -8.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jack Anders sold 20,000 shares of the firm's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 10,020 shares of Revolution Medicines stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $1,564,322.40. Following the transaction, the insider directly owned 267,330 shares in the company, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 132,497 shares of company stock valued at $21,470,486. 7.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RVMD. Piper Sandler boosted their price target on shares of Revolution Medicines to $172.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Evercore reaffirmed an "outperform" rating and issued a $230.00 price objective on shares of Revolution Medicines in a report on Thursday, August 6th. Truist Financial lifted their price objective on shares of Revolution Medicines from $210.00 to $231.00 and gave the company a "buy" rating in a research report on Tuesday. Royal Bank Of Canada boosted their target price on shares of Revolution Medicines from $182.00 to $203.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Finally, Stifel Nicolaus restated a "buy" rating on shares of Revolution Medicines in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $161.79.

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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