MUFG Securities EMEA plc Invests $9.80 Million in Revolution Medicines, Inc. $RVMD

MUFG Securities EMEA plc bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 123,000 shares of the company’s stock, valued at approximately $9,797,000.

A number of other hedge funds have also modified their holdings of the business. BNP Paribas Financial Markets grew its position in shares of Revolution Medicines by 45.8% during the fourth quarter. BNP Paribas Financial Markets now owns 619,387 shares of the company’s stock worth $49,334,000 after acquiring an additional 194,706 shares during the last quarter. Norges Bank purchased a new position in Revolution Medicines in the 4th quarter valued at $195,568,000. Zweig DiMenna Associates LLC purchased a new position in Revolution Medicines in the 4th quarter valued at $8,331,000. Eurizon Capital SGR S.p.A. purchased a new position in Revolution Medicines in the 4th quarter valued at $179,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new position in Revolution Medicines in the 4th quarter valued at $797,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RVMD has been the topic of a number of analyst reports. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective on the stock. Truist Financial initiated coverage on shares of Revolution Medicines in a research report on Monday, May 18th. They issued a “buy” rating and a $179.00 price objective on the stock. Piper Sandler lifted their price objective on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. HC Wainwright reiterated a “buy” rating on shares of Revolution Medicines in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada lifted their price objective on shares of Revolution Medicines to $165.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $111.35.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 2,753 shares of the business’s stock in a transaction 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 directly owned 125,512 shares in the company, valued at approximately $12,485,933.76. The trade was a 2.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 148,592 shares of company stock worth $20,855,132. 7.60% of the stock is currently owned by insiders.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $157.48 on Monday. The firm has a market cap of $33.48 billion, a price-to-earnings ratio of -22.27 and a beta of 1.40. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $158.13. The firm’s fifty day moving average price is $129.46 and its 200 day moving average price is $104.80. 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 issued 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 period in the prior year, the firm posted ($1.13) EPS. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -7.75 EPS for the current year.

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.