SBI Okasan Asset Management Co.Ltd. Invests $797,000 in Revolution Medicines, Inc. $RVMD

SBI Okasan Asset Management Co.Ltd. purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 9,900 shares of the company’s stock, valued at approximately $797,000.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares during the period. Farallon Capital Management LLC lifted its stake in shares of Revolution Medicines by 2.1% in the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock worth $683,020,000 after acquiring an additional 300,000 shares during the period. Baker BROS. Advisors LP lifted its stake in shares of Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock worth $441,565,000 after acquiring an additional 90,385 shares during the period. Nextech Invest Ltd. lifted its stake in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the period. Finally, Paradigm Biocapital Advisors LP lifted its stake in shares of Revolution Medicines by 2.1% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock worth $290,628,000 after acquiring an additional 130,000 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the sale, the insider owned 276,698 shares in the company, valued at $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jack Anders sold 2,753 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the sale, the chief financial officer owned 125,512 shares in the company, valued at $12,485,933.76. This represents a 2.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,592 shares of company stock valued at $24,499,532 over the last three months. 8.20% of the stock is owned by insiders.

Revolution Medicines Stock Up 1.8%

RVMD stock opened at $157.48 on Friday. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $158.13. The firm has a market cap of $33.48 billion, a PE ratio of -22.27 and a beta of 1.41. The firm has a 50 day simple moving average of $129.46 and a 200 day simple moving average of $104.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business earned ($1.13) EPS. Equities research analysts forecast that Revolution Medicines, Inc. will post -7.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RVMD has been the subject of several recent research reports. Wedbush increased their target price on shares of Revolution Medicines to $165.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price for the company. Guggenheim increased their target price on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $111.35.

Revolution Medicines 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.