Centric Wealth Management Acquires Shares of 3,416 Revolution Medicines, Inc. $RVMD

Centric Wealth Management bought a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,416 shares of the company’s stock, valued at approximately $505,000.

Several other institutional investors and hedge funds have also made changes to their positions in RVMD. Vanguard Group Inc. increased its stake in Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after buying an additional 1,056,792 shares during the period. Janus Henderson Group PLC raised its stake in shares of Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after acquiring an additional 947,448 shares in the last quarter. Nextech Invest Ltd. boosted its holdings in shares of Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after purchasing an additional 1,304,347 shares during the period. Paradigm Biocapital Advisors LP boosted its holdings in shares of Revolution Medicines by 6.8% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock valued at $529,227,000 after purchasing an additional 421,112 shares during the period. Finally, Bellevue Group AG grew its stake in Revolution Medicines by 21.7% in the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after purchasing an additional 994,538 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $203.71 on Friday. The firm has a market cap of $43.66 billion, a price-to-earnings ratio of -23.10 and a beta of 1.39. Revolution Medicines, Inc. has a 52-week low of $35.42 and a 52-week high of $208.76. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $181.62 and its 200 day moving average is $140.49.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the prior year, the firm posted ($1.31) earnings per share. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -8.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on RVMD shares. HC Wainwright restated a “buy” rating and set a $195.00 price objective on shares of Revolution Medicines in a report on Monday, July 6th. Oppenheimer reiterated an “outperform” rating and issued a $230.00 target price on shares of Revolution Medicines in a report on Thursday, August 6th. Piper Sandler increased their price target on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Royal Bank Of Canada raised their price target on Revolution Medicines from $182.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Mizuho lifted their price objective on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $161.79.

Insider Activity

In related news, insider Stephen Michael Kelsey sold 4,175 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the sale, the insider directly owned 291,876 shares in the company, valued at $45,567,681.12. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the sale, the chief financial officer directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 132,497 shares of company stock worth $21,470,486 over the last ninety days. 7.60% of the stock is currently owned by corporate insiders.

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.