Nissay Asset Management Corp Japan Increases Holdings in Revolution Medicines, Inc. $RVMD

Nissay Asset Management Corp Japan lifted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 14.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,164 shares of the company’s stock after purchasing an additional 2,744 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Revolution Medicines were worth $3,964,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its stake in Revolution Medicines by 119.0% in the 2nd quarter. Hsbc Holdings PLC now owns 71,816 shares of the company’s stock worth $13,458,000 after purchasing an additional 39,025 shares during the period. Beacon Pointe Advisors LLC bought a new stake in shares of Revolution Medicines during the second quarter valued at about $346,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Revolution Medicines in the second quarter worth about $187,000. Empowered Funds LLC purchased a new stake in shares of Revolution Medicines in the second quarter worth about $9,755,000. Finally, United Capital Financial Advisors LLC purchased a new stake in shares of Revolution Medicines in the second quarter worth about $595,000. Institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on RVMD. Mizuho boosted their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Guggenheim raised their price target on shares of Revolution Medicines from $240.00 to $275.00 and gave the company a “buy” rating in a report on Friday. Wolfe Research restated an “outperform” rating and set a $220.00 price target on shares of Revolution Medicines in a research report on Monday, August 10th. HC Wainwright upped their price target on shares of Revolution Medicines from $195.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Oppenheimer increased their price objective on Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.74.

Revolution Medicines Stock Down 1.1%

RVMD stock opened at $205.57 on Tuesday. The company’s 50 day moving average is $194.12 and its 200 day moving average is $149.73. The stock has a market cap of $44.06 billion, a price-to-earnings ratio of -23.31 and a beta of 1.39. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines, Inc. has a 1-year low of $37.56 and a 1-year high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period last year, the firm earned ($1.31) EPS. Sell-side analysts predict that Revolution Medicines, Inc. will post -8.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Stephen Michael Kelsey sold 4,175 shares of the company’s stock in a transaction on 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 directly owned 291,876 shares in the company, valued at approximately $45,567,681.12. The trade was a 1.41% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 value of $1,048,984.20. Following the completion of the transaction, the director directly owned 21,656 shares in the company, valued at approximately $4,071,111.44. This represents a 20.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 212,497 shares of company stock valued at $38,206,486 in the last three months. 7.60% of the stock is owned by corporate insiders.

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.