Citizens Financial Group Inc. RI Buys Shares of 74,036 Revolution Medicines, Inc. $RVMD

Citizens Financial Group Inc. RI bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 74,036 shares of the company’s stock, valued at approximately $13,865,000.

Several other institutional investors have also recently made changes to their positions in the stock. Deutsche Bank AG purchased a new position in shares of Revolution Medicines in the second quarter valued at $166,308,000. Alphabet Inc. bought a new stake in shares of Revolution Medicines during the 2nd quarter valued at $551,843,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Revolution Medicines during the 2nd quarter worth about $35,007,000. Persistent Asset Partners Ltd purchased a new stake in Revolution Medicines during the 2nd quarter worth about $7,253,000. Finally, AMG National Trust Bank bought a new position in Revolution Medicines in the 2nd quarter worth about $303,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RVMD shares. Oppenheimer reaffirmed an “outperform” rating and set a $230.00 target price on shares of Revolution Medicines in a report on Thursday, August 6th. Piper Sandler increased 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. Wolfe Research reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Revolution Medicines in a research note on Monday, August 10th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Finally, Truist Financial increased their target price on shares of Revolution Medicines from $210.00 to $231.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.33.

Insider Activity at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 60,400 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the completion of the transaction, the chief operating officer owned 158,222 shares in the company, valued at approximately $25,342,417.74. This trade represents a 27.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 132,497 shares of company stock valued at $21,470,486 in the last ninety days. Insiders own 7.60% of the company’s stock.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $212.00 on Tuesday. Revolution Medicines, Inc. has a 52-week low of $35.42 and a 52-week high of $215.97. The stock has a fifty day moving average of $182.89 and a 200 day moving average of $141.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The firm has a market capitalization of $45.44 billion, a price-to-earnings ratio of -24.04 and a beta of 1.39.

Revolution Medicines (NASDAQ:RVMD) last announced 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 last year, the company posted ($1.31) earnings per share. On average, research analysts expect that Revolution Medicines, Inc. will post -8.82 EPS for the current fiscal year.

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.