Meeder Advisory Services Inc. Acquires New Position in Revolution Medicines, Inc. $RVMD

Meeder Advisory Services Inc. purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, HoldingsChannel.com reports. The firm purchased 3,922 shares of the company’s stock, valued at approximately $735,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RVMD. Vanguard Group Inc. lifted its stake in shares of Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after purchasing an additional 1,056,792 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Revolution Medicines by 194.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock worth $1,696,000 after buying an additional 14,062 shares during the period. State of Wyoming purchased a new position in Revolution Medicines in the second quarter valued at about $1,769,000. Eagle Health Investments LP purchased a new position in Revolution Medicines in the fourth quarter valued at about $9,231,000. Finally, Handelsbanken Fonder AB lifted its position in shares of Revolution Medicines by 243.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 212,275 shares of the company’s stock valued at $39,755,000 after acquiring an additional 150,500 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the subject of several research reports. Sanford C. Bernstein began coverage on Revolution Medicines in a report on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective for the company. 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 report on Thursday, August 6th. HC Wainwright reaffirmed a “buy” rating and set a $195.00 price target on shares of Revolution Medicines in a research note on Monday, July 6th. Wolfe Research reiterated an “outperform” rating and issued a $220.00 price objective on shares of Revolution Medicines in a research report on Monday, August 10th. Finally, Needham & Company LLC increased their price objective on shares of Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Revolution Medicines has an average rating of “Moderate Buy” and a consensus price target of $166.33.

Revolution Medicines Trading Down 1.4%

Shares of RVMD opened at $211.74 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $35.42 and a fifty-two week high of $220.34. The company has a market capitalization of $45.38 billion, a PE ratio of -24.01 and a beta of 1.39. The stock has a fifty day moving average of $186.87 and a two-hundred day moving average of $144.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the firm posted ($1.31) earnings per share. As a group, analysts forecast that Revolution Medicines, Inc. will post -8.82 EPS for the current year.

Insider Activity

In other news, COO Margaret A. Horn sold 29,600 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the transaction, the chief operating officer owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. This trade represents a 16.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the transaction, the insider directly owned 291,876 shares in the company, valued at $45,567,681.12. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 132,497 shares of company stock worth $21,470,486. Insiders own 7.60% of the company’s stock.

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.