Centric Wealth Management Makes New $505,000 Investment in Revolution Medicines, Inc. $RVMD

Centric Wealth Management purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, HoldingsChannel.com reports. The fund purchased 3,416 shares of the company’s stock, valued at approximately $505,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Contravisory Investment Management Inc. acquired a new stake in shares of Revolution Medicines in the 2nd quarter worth $32,000. Harbor Investment Advisory LLC purchased a new stake in Revolution Medicines in the second quarter valued at about $70,000. Global Retirement Partners LLC raised its stake in Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares during the last quarter. Torren Management LLC acquired a new stake in Revolution Medicines in the fourth quarter worth about $33,000. Finally, Arax Advisory Partners acquired a new stake in Revolution Medicines in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the topic of several recent analyst reports. Evercore restated an “outperform” rating and set a $230.00 price objective on shares of Revolution Medicines in a report on Thursday, August 6th. Oppenheimer reissued an “outperform” rating and set a $230.00 target price on shares of Revolution Medicines in a research report on Thursday, August 6th. Wedbush upped their price target on shares of Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Piper Sandler raised their price target on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Truist Financial lifted their price objective on shares of Revolution Medicines from $210.00 to $231.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.79.

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 shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the transaction, the director 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 132,497 shares of company stock worth $21,470,486. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Up 0.8%

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

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

Revolution Medicines Company 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.