Mitsubishi UFJ Asset Management Co. Ltd. Takes $35.01 Million Position in Revolution Medicines, Inc. $RVMD

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, Holdings Channel reports. The institutional investor purchased 186,924 shares of the company’s stock, valued at approximately $35,007,000.

Other hedge funds have also bought and sold shares of the company. Meeder Advisory Services Inc. lifted its position in shares of Revolution Medicines by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after acquiring an additional 120 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Revolution Medicines by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after purchasing an additional 125 shares in the last quarter. Deutsche Bank AG lifted its holdings in Revolution Medicines by 0.4% during the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after purchasing an additional 130 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Revolution Medicines in the 2nd quarter worth about $32,000. Finally, Allworth Financial LP boosted its stake in Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after purchasing an additional 210 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $214.66 on Thursday. Revolution Medicines, Inc. has a 52-week low of $35.42 and a 52-week high of $220.34. The stock has a fifty day moving average of $185.62 and a 200 day moving average of $143.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The firm has a market capitalization of $46.01 billion, a price-to-earnings ratio of -24.34 and a beta of 1.39.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period last year, the company posted ($1.31) earnings per share. On average, research analysts expect that Revolution Medicines, Inc. will post -8.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC upped their price target on Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Guggenheim raised their price objective on shares of Revolution Medicines from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Sanford C. Bernstein began coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective for the company. Wolfe Research reaffirmed an “outperform” rating and set a $220.00 target price on shares of Revolution Medicines in a report on Monday, August 10th. Finally, Mizuho increased their target price on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.33.

Insider Activity at Revolution Medicines

In related news, COO Margaret A. Horn sold 60,400 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $160.17, for a total value of $9,674,268.00. Following the sale, the chief operating officer directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction that occurred 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 sale, the insider owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 132,497 shares of company stock valued at $21,470,486 in the last ninety days. Insiders own 7.60% of the company’s stock.

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.