North Dakota State Investment Board acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,092 shares of the company’s stock, valued at approximately $485,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Indiana Trust & Investment Management Co bought a new position in Revolution Medicines in the fourth quarter valued at approximately $32,000. Torren Management LLC acquired a new stake in Revolution Medicines in the fourth quarter worth $33,000. Darwin Wealth Management LLC acquired a new stake in Revolution Medicines in the fourth quarter worth $40,000. Allworth Financial LP raised its holdings in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after purchasing an additional 210 shares during the period. Finally, Signaturefd LLC raised its holdings in Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after purchasing an additional 163 shares during the period. 94.34% of the stock is owned by institutional investors.
Insider Buying and Selling at Revolution Medicines
In related news, COO Margaret A. Horn sold 4,583 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $455,916.84. Following the sale, the chief operating officer directly owned 157,570 shares in the company, valued at $15,675,063.60. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 120,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the sale, the insider owned 276,698 shares in the company, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 184,592 shares of company stock valued at $24,499,532 over the last quarter. 8.20% of the stock is currently owned by corporate insiders.
Revolution Medicines Trading Down 1.4%
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period last year, the business posted ($1.13) EPS. As a group, research analysts forecast that Revolution Medicines, Inc. will post -7.75 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have weighed in on RVMD. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Piper Sandler increased their target price on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. HC Wainwright reiterated a “buy” rating on shares of Revolution Medicines in a report on Wednesday, April 22nd. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Finally, UBS Group began coverage on shares of Revolution Medicines in a report on Friday, February 27th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $111.35.
View Our Latest Research Report on RVMD
About Revolution Medicines
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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