Wellington Management Co. LLP has recently announced that it has increased stake in Revolution Medicines Inc (NASDAQ:RVMD) by 34.49%. After grabbing 14.22 million shares, the institutional investor is now in possession of 3.65 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.68% having worth around $331.74 million. Moreover, The Vanguard Group, Inc. increased its share by 0.3 million to have a control over 9.37 million shares. And BlackRock Fund Advisors raised its holdings to 0.22 million shares by acquiring 6.79 million shares or 4.14% of the stake.
Revolution Medicines Inc (RVMD) concluded trading on 12/27/23 at a closing price of $29.31, with 2.66 million shares of worth about $77.91 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 9.53% during that period and on Wednesday the price saw a gain of about 1.42%. Currently the company’s common shares owned by public are about 109.56M shares, out of which, 99.11M 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 68 times over the past 12 months. They bought 4,787,394 shares in 36 of the transactions. In 32 selling transactions, insiders dumped 189,299 shares.
BB Biotech AG, Vanguard Total Stock Market ETF, and Vanguard Health Care Fund are the top 3 mutual funds which are holding stakes in Revolution Medicines Inc BB Biotech AG is currently holding 4.65 million shares of worth totaling $108.41 million. The company recently came selling 28300.0 shares which brought its stake up to 2.84% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 1.22 million shares, after which its hold over company’s outstanding shares expand to 2.67%, leaving 4.36 million shares with the mutual fund that have a worth of about $101.82 million. Vanguard Health Care Fund, after buying 3.97 million shares, have now control over 2.42% of the stake in the company. It holds 0.0 shares of worth $92.6 million.
Revolution Medicines Inc (NASDAQ: RVMD) started trading at $29.00, above $0.1 from concluding price of the previous day. However, the stock later moved at a day high price of 29.35, or with a gain of 1.42%. Stock saw a price change of 10.27% in past 5 days and over the past one month there was a price change of 35.13%. Year-to-date (YTD), RVMD shares are showing a performance of 23.05% which increased to 32.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $15.44 but also hit the highest price of $35.60 during that period. The average intraday trading volume for Revolution Medicines Inc shares is 2.64 million. The stock is currently trading 16.90% above its 20-day simple moving average (SMA20), while that difference is up 25.21% for SMA50 and it goes to 14.01% higher than SMA200.
Wellington Management Co. LLP acquired 14.22 million shares of Revolution Medicines Inc having value of about $331.74 million. Data submitted at the U.S SEC by Wellington Management Co. LLP revealed that the firm now holds 3.65 million shares in the company valued at close to $106892251.05, or have control over 34.49% stake in the company. Revolution Medicines Inc (NASDAQ: RVMD) currently have 109.56M outstanding shares and institutions hold larger chunk of about 97.19% of that. Holding of mutual funds in the company is about 31.06% while other institutional holders and individual stake holders have control over 34.01% and 11.11% of the stake respectively.
The stock has a current market capitalization of $3.21B and its 3Y-monthly beta is at 1.54. It has posted earnings per share of -$3.26 in the same period. It has Quick Ratio of 9.64 while making debt-to-equity ratio of 0.08. 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 4.86% while standing at 4.52% over the month.
Analysts are in expectations that Revolution Medicines Inc (RVMD) stock would likely to be making an EPS of -$0.9 in the current quarter, while forecast for next quarter EPS is -$0.78 and it is -$3.3 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.14 which is -$0.7 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 -$0.63 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -14.60% while it is estimated to increase by 6.42% in next year.
Analysts at 10 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 1.30. Out of those 10 Wall Street analysts, 8 recommended a “Buy” rating, while 1 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 Raymond James on November 16, 2023 offering an Outperform rating for the stock and assigned a target price of $30 to it.
