Daiichi Life Insurance Co. Ltd. Invests $1.03 Million in Revolution Medicines, Inc. $RVMD

Daiichi Life Insurance Co. Ltd. acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,523 shares of the company’s stock, valued at approximately $1,034,000.

Other large investors have also added to or reduced their stakes in the company. Commerce Bank acquired a new stake in Revolution Medicines during the 2nd quarter worth approximately $270,000. Northwestern Mutual Wealth Management Co. acquired a new position in Revolution Medicines in the 2nd quarter valued at approximately $41,000. Quantbot Technologies LP bought a new position in shares of Revolution Medicines during the second quarter valued at $1,072,000. Korea Investment CORP acquired a new position in shares of Revolution Medicines during the second quarter worth $11,256,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Revolution Medicines during the second quarter worth $66,000. Institutional investors own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Revolution Medicines from $182.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a report on Friday, July 17th. Evercore reiterated an “outperform” rating and issued a $230.00 price target on shares of Revolution Medicines in a research report on Thursday, August 6th. HC Wainwright reissued a “buy” rating and issued a $195.00 price target on shares of Revolution Medicines in a research note on Monday, July 6th. Finally, Mizuho raised their price objective on Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.89.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $211.58 on Tuesday. The company has a market capitalization of $45.35 billion, a PE ratio of -23.99 and a beta of 1.39. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines, Inc. has a twelve month low of $35.62 and a twelve month high of $220.34. The firm has a fifty day simple moving average of $189.02 and a 200 day simple moving average of $145.65.

Revolution Medicines (NASDAQ:RVMD) last issued 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 quarter last year, the company earned ($1.31) EPS. On average, sell-side analysts forecast that Revolution Medicines, Inc. will post -8.82 EPS for the current year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the transaction, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the transaction, the insider owned 291,876 shares in the company, valued at approximately $45,567,681.12. This represents a 1.41% 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 quarter, insiders have sold 132,497 shares of company stock worth $21,470,486. Corporate 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.