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Stock impact report

Revolution Medicines (RVMD) Hits All-Time High on Buyout Buzz; Buyer Denies Talks [Yahoo! Finance]

Revolution Medicines, Inc. (RVMD) 
Company Research Source: Yahoo! Finance
Revolution Medicines soared to a new all-time high on Wednesday, as investors took path from a report from The Wall Street Journal that it was set to be acquired by AbbVie that could value the former $20 billion, albeit the latter later in the day debunked the report. At intra-day trading, Revolution Medicines, Inc. (NASDAQ:RVMD) climbed to its highest price of $105 before paring gains to finish the day just up by 28.63 percent at $102.71 apiece. Wednesday's trading was a significant jump from the near $80 level the day prior. Photo by Myriam Zilles on Unsplash According to WSJ, AbbVie was in advanced talks to acquire Revolution Medicines, Inc. (NASDAQ:RVMD), which would have been the first mega deal blowout for the year. Trading in its shares also halted twice due to price volatility. However, Reuters reported, quoting AbbVie as saying that it was “not in discussions with Revolution Medicines.” Founded in 2014, Revolution Medicines, Inc. (NASDAQ:RVMD) is a late-stage clini Show less Read more
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