HB Wealth Management LLC Takes $302,000 Position in Revolution Medicines, Inc. $RVMD

HB Wealth Management LLC acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,110 shares of the company’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RVMD. Global Retirement Partners LLC lifted its holdings in shares of Revolution Medicines by 1,002.8% in the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after acquiring an additional 361 shares during the last quarter. Indiana Trust & Investment Management Co bought a new stake in shares of Revolution Medicines during the 4th quarter worth approximately $32,000. Torren Management LLC bought a new stake in shares of Revolution Medicines during the 4th quarter worth approximately $33,000. Arax Advisory Partners purchased a new position in Revolution Medicines during the 4th quarter valued at $38,000. Finally, Darwin Wealth Management LLC purchased a new position in Revolution Medicines during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling at Revolution Medicines

In related news, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction on 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 transaction, the director owned 21,656 shares in the company, valued at $4,071,111.44. This trade represents a 20.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the insider directly owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. This represents a 3.61% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 252,497 shares of company stock valued at $39,481,286. Insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Down 1.6%

NASDAQ:RVMD opened at $183.95 on Tuesday. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $193.82. The stock has a market capitalization of $39.11 billion, a P/E ratio of -26.02 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The company’s 50-day simple moving average is $162.03 and its 200-day simple moving average is $125.51.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data 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 business earned ($1.13) earnings per share. On average, equities analysts anticipate that Revolution Medicines, Inc. will post -7.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Piper Sandler upped their price objective on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Royal Bank Of Canada lifted their target price on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Guggenheim boosted their price objective on shares of Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $144.00.

Revolution Medicines 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.