Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,031 shares of the company’s stock, valued at approximately $878,000.
A number of other institutional investors and hedge funds also recently modified their holdings of RVMD. PNC Financial Services Group Inc. lifted its holdings in shares of Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after purchasing an additional 125 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Revolution Medicines by 0.4% in the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after purchasing an additional 130 shares during the period. Signaturefd LLC increased its stake in Revolution Medicines by 33.1% in the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after purchasing an additional 163 shares in the last quarter. Allworth Financial LP increased its stake in Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after purchasing an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Revolution Medicines by 44.7% during the 4th quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $60,000 after buying an additional 232 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.
Revolution Medicines Stock Performance
Shares of NASDAQ:RVMD opened at $189.24 on Friday. The firm has a fifty day moving average of $156.00 and a two-hundred day moving average of $120.55. The firm has a market capitalization of $40.23 billion, a P/E ratio of -26.77 and a beta of 1.37. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $193.10. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19.
Analyst Ratings Changes
A number of analysts have commented on the stock. Piper Sandler upped their price objective on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Evercore restated an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Oppenheimer upped their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, Needham & Company LLC raised their price objective on shares of Revolution Medicines from $183.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $135.39.
View Our Latest Stock Report on RVMD
Insider Transactions at Revolution Medicines
In other Revolution Medicines news, CFO Jack Anders sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total value of $3,366,600.00. Following the transaction, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This represents a 13.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sushil Patel sold 5,580 shares of the firm’s 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 sale, the director directly owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 252,497 shares of company stock valued at $39,481,286. Corporate insiders own 7.60% of the company’s stock.
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.
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