Wellington Management Co. LLP has recently announced that it has increased stake in Revolution Medicines Inc. (NASDAQ:RVMD) by 19.65%. After grabbing 7.38 million shares, the institutional investor is now in possession of 1.21 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.42% having worth around $149.54 million. Moreover, The Vanguard Group, Inc. increased its share by 1.39 million to have a control over 6.85 million shares. And BlackRock Fund Advisors raised its holdings to 0.63 million shares by acquiring 4.78 million shares or 5.45% of the stake.
Revolution Medicines Inc. (RVMD) concluded trading on 12/08/22 at a closing price of $24.75, with 2.7 million shares of worth about $66.74 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 30.81% during that period and on Thursday the price saw a gain of about 2.48%. Currently the company’s common shares owned by public are about 88.79M shares, out of which, 87.08M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 67 times over the past 12 months. They bought 1,561,851 shares in 44 of the transactions. In 23 selling transactions, insiders dumped 485,178 shares.
BB Biotech AG, SPDR S&P Biotech ETF, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Revolution Medicines Inc. BB Biotech AG is currently holding 3.42 million shares of worth totaling $69.32 million. The company recently came buying 11357.0 shares which brought its stake up to 3.90% of the company’s outstanding shares. SPDR S&P Biotech ETF bought 17480.0 shares, after which its hold over company’s outstanding shares expand to 3.60%, leaving 3.16 million shares with the mutual fund that have a worth of about $64.03 million. Vanguard Total Stock Market Index, after buying 2.24 million shares, have now control over 2.56% of the stake in the company. It holds 14384.0 shares of worth $45.47 million.
Revolution Medicines Inc. (NASDAQ: RVMD) started trading at $24.49, above $0.34 from concluding price of the previous day. However, the stock later moved at a day high price of 24.77, or with a gain of 2.48%. Stock saw a price change of 4.61% in past 5 days and over the past one month there was a price change of 25.95%. Year-to-date (YTD), RVMD shares are showing a performance of -1.67% which decreased to -7.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.08 but also hit the highest price of $28.11 during that period. The average intraday trading volume for Revolution Medicines Inc. shares is 889.84K. The stock is currently trading 12.06% above its 20-day simple moving average (SMA20), while that difference is up 20.84% for SMA50 and it goes to 19.51% higher than SMA200.
Wellington Management Co. LLP acquired 7.38 million shares of Revolution Medicines Inc. having value of about $149.54 million. Data submitted at the U.S SEC by Wellington Management Co. LLP revealed that the firm now holds 1.21 million shares in the company valued at close to $30001380.75, or have control over 19.65% stake in the company. Holding of mutual funds in the company is about 38.72% while other institutional holders and individual stake holders have control over 40.46% and 19.53% of the stake respectively.
The stock has a current market capitalization of $2.04B. It has posted earnings per share of -$3.18 in the same period. It has Quick Ratio of 9.20 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RVMD, volatility over the week remained 9.35% while standing at 6.87% over the month.
Analysts are in expectations that Revolution Medicines Inc. (RVMD) stock would likely to be making an EPS of -$0.84 in the current quarter, while forecast for next quarter EPS is -$0.82 and it is -$3.66 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.02 which is -$0.71 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.72 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -27.80% while it is estimated to decrease by -8.40% in next year.
Analysts at 9 brokerage firms have issued recommendations for the Revolution Medicines Inc. (RVMD)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 9 Wall Street analysts, 6 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Oppenheimer on October 21, 2022 offering an Outperform rating for the stock and assigned a target price of $30 to it. Coverage by BofA Securities stated Revolution Medicines Inc. (RVMD) stock as a Neutral in their note to investors on May 20, 2022, suggesting a price target of $24 for the stock. On March 01, 2022, Stifel Upgrade their recommendations, while on September 23, 2021, Stifel Initiated their ratings for the stock with a price target of $34. Stock get a Neutral rating from Goldman on August 12, 2021.
