Revolution Medicines, Inc. $RVMD Stock Holdings Increased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 4,828.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 270,972 shares of the company’s stock after purchasing an additional 265,474 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Revolution Medicines were worth $26,352,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RVMD. Vanguard Group Inc. grew its holdings in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Revolution Medicines by 194.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock worth $1,696,000 after acquiring an additional 14,062 shares in the last quarter. Mass General Brigham Inc purchased a new stake in shares of Revolution Medicines during the fourth quarter worth $27,407,000. Eagle Health Investments LP purchased a new stake in shares of Revolution Medicines during the fourth quarter worth $9,231,000. Finally, M&T Bank Corp acquired a new stake in Revolution Medicines during the fourth quarter valued at $52,723,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Jefferies Financial Group assumed coverage on Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating on the stock. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Oppenheimer lifted their price target on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Royal Bank Of Canada boosted their price target on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Finally, Piper Sandler increased their price objective on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Revolution Medicines has a consensus rating of “Moderate Buy” and an average target price of $144.00.

Revolution Medicines Trading Down 1.6%

NASDAQ:RVMD opened at $183.95 on Tuesday. The company’s 50 day moving average is $162.03 and its 200-day moving average is $125.51. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $193.82. The firm has a market cap of $39.11 billion, a price-to-earnings ratio of -26.02 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period last year, the company earned ($1.13) EPS. Equities analysts anticipate that Revolution Medicines, Inc. will post -7.92 EPS for the current year.

Insider Activity

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the transaction, the insider owned 291,876 shares of the company’s stock, valued at $45,567,681.12. The trade was a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 60,400 shares of the company’s 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 sale, the chief operating officer owned 158,222 shares of the company’s stock, valued at $25,342,417.74. This trade represents a 27.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 252,497 shares of company stock worth $39,481,286. Insiders own 7.60% of the company’s stock.

About Revolution Medicines

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.