41,680 Shares in Revolution Medicines, Inc. $RVMD Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 41,680 shares of the company’s stock, valued at approximately $4,024,000.

A number of other hedge funds have also modified their holdings of RVMD. Nextech Invest Ltd. lifted its holdings in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the period. Millennium Management LLC raised its position in Revolution Medicines by 681.8% during the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after buying an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Revolution Medicines by 14.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock worth $10,615,000 after buying an additional 37,345 shares during the last quarter. Invesco Ltd. raised its position in Revolution Medicines by 19.3% during the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock worth $8,352,000 after buying an additional 36,760 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in Revolution Medicines by 87.9% during the 2nd quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after acquiring an additional 7,137 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the transaction, the director directly owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 60,400 shares of Revolution Medicines stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the completion of the sale, the chief operating officer owned 158,222 shares in the company, valued at approximately $25,342,417.74. This trade represents a 27.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 252,497 shares of company stock valued at $39,481,286 in the last three months. Company insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RVMD shares. Piper Sandler increased their price objective on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Guggenheim boosted their target price on shares of Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush upped their price target on shares of Revolution Medicines from $165.00 to $181.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Needham & Company LLC upped their price target on shares of Revolution Medicines from $183.00 to $235.00 and gave the company a “buy” rating in a report on Monday, June 29th. Finally, Royal Bank Of Canada increased their price target on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines presently has an average rating of “Moderate Buy” and an average price target of $144.00.

Revolution Medicines Price Performance

Shares of RVMD opened at $186.88 on Monday. The firm has a market cap of $39.73 billion, a P/E ratio of -26.43 and a beta of 1.37. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $193.82. The stock’s 50 day moving average is $161.23 and its two-hundred day moving average is $124.78. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the previous year, the firm posted ($1.13) earnings per share. Analysts predict that Revolution Medicines, Inc. will post -7.92 earnings per share for the current fiscal year.

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.