Vise Technologies Inc. Purchases Shares of 2,593 Revolution Medicines, Inc. $RVMD

Vise Technologies Inc. purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, Holdings Channel reports. The firm purchased 2,593 shares of the company’s stock, valued at approximately $486,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Advisory Services Inc. raised its stake in shares of Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after acquiring an additional 120 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock valued at $802,000 after acquiring an additional 125 shares in the last quarter. Deutsche Bank AG boosted its stake in Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after acquiring an additional 130 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Revolution Medicines in the second quarter worth $32,000. Finally, Johnson Financial Group Inc. purchased a new position in Revolution Medicines in the second quarter worth $37,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In other Revolution Medicines news, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the sale, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the sale, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 132,497 shares of company stock worth $21,470,486 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Up 1.0%

NASDAQ RVMD opened at $211.58 on Tuesday. Revolution Medicines, Inc. has a 12-month low of $35.62 and a 12-month high of $220.34. The company has a fifty day simple moving average of $189.02 and a two-hundred day simple moving average of $145.65. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock has a market cap of $45.35 billion, a P/E ratio of -23.99 and a beta of 1.39.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data 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 quarter in the previous year, the firm earned ($1.31) EPS. On average, analysts forecast that Revolution Medicines, Inc. will post -8.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RVMD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a report on Friday, July 17th. Truist Financial boosted their target price on Revolution Medicines from $210.00 to $231.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Wedbush upped their target price on Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Piper Sandler increased their price target on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Oppenheimer restated an “outperform” rating and set a $230.00 price target on shares of Revolution Medicines in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $167.89.

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.