Meeder Advisory Services Inc. Invests $735,000 in Revolution Medicines, Inc. $RVMD

Meeder Advisory Services Inc. bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,922 shares of the company’s stock, valued at approximately $735,000.

Other hedge funds have also bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new stake in shares of Revolution Medicines in the second quarter worth $32,000. Global Retirement Partners LLC lifted its position in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares during the period. Torren Management LLC acquired a new position in Revolution Medicines during the fourth quarter valued at $33,000. Arax Advisory Partners purchased a new stake in Revolution Medicines in the fourth quarter valued at $38,000. Finally, Allworth Financial LP boosted its holdings in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Price Performance

RVMD stock opened at $211.74 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The business has a 50 day simple moving average of $186.87 and a 200-day simple moving average of $144.05. The firm has a market capitalization of $45.38 billion, a PE ratio of -24.01 and a beta of 1.39. Revolution Medicines, Inc. has a 1 year low of $35.42 and a 1 year high of $220.34.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) 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. Equities research analysts anticipate that Revolution Medicines, Inc. will post -8.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other news, Director Sushil Patel sold 5,580 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the sale, the director directly owned 21,656 shares in the company, valued at approximately $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines 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 owned 291,876 shares of the company’s stock, valued at $45,567,681.12. The trade was a 1.41% decrease in their position. 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 three months, insiders have sold 132,497 shares of company stock valued at $21,470,486. Corporate insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RVMD shares. Truist Financial lifted their target price on shares of Revolution Medicines from $210.00 to $231.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Royal Bank Of Canada upped their price objective on shares of Revolution Medicines from $182.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Wedbush increased their target price on shares of Revolution Medicines from $192.10 to $201.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Needham & Company LLC raised their target price on Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Oppenheimer restated an “outperform” rating and issued a $230.00 price target on shares of Revolution Medicines in a research note on Thursday, August 6th. One 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.33.

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.