Ritholtz Wealth Management Invests $362,000 in Revolution Medicines, Inc. $RVMD

Ritholtz Wealth Management acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,725 shares of the company’s stock, valued at approximately $362,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Indiana Trust & Investment Management Co purchased a new position in Revolution Medicines in the fourth quarter worth $32,000. Global Retirement Partners LLC lifted its holdings in shares of 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 last quarter. Torren Management LLC acquired a new stake in shares of Revolution Medicines in the 4th quarter worth $33,000. Arax Advisory Partners acquired a new stake in shares of Revolution Medicines in the 4th quarter worth $38,000. Finally, Darwin Wealth Management LLC purchased a new position in Revolution Medicines during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial increased their price target on Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim upped their price objective on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Royal Bank Of Canada lifted their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Finally, HC Wainwright boosted their target price on shares of Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $134.50.

Insider Activity

In related news, COO Margaret A. Horn sold 60,400 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $160.17, for a total value of $9,674,268.00. Following the completion of the transaction, the chief operating officer directly owned 158,222 shares in the company, valued at $25,342,417.74. The trade was a 27.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 on Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director directly owned 21,656 shares in the company, valued at $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 252,497 shares of company stock worth $39,481,286. 7.60% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Up 0.1%

Shares of RVMD opened at $187.51 on Thursday. The company has a market capitalization of $39.86 billion, a price-to-earnings ratio of -26.52 and a beta of 1.37. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $193.10. The stock’s 50-day moving average price is $154.24 and its 200-day moving average price is $119.29. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the prior year, the firm posted ($1.13) earnings per share. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

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.