44,928 Shares in Revolution Medicines, Inc. $RVMD Acquired by Nykredit A S

Key Points

• Nykredit A S acquired 44,928 shares of Revolution Medicines during the second quarter, valued at approximately $8.4 million. Institutional investors collectively own 94.34% of the company.
• Revolution Medicines’ insiders sold more than 300,000 shares worth approximately $60.6 million over the past 90 days, including substantial sales by its CFO and a director.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $228.21, despite the company reporting a larger-than-expected quarterly loss of $3.06 per share.

Nykredit A S purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 44,928 shares of the company's stock, valued at approximately $8,414,000.

Several other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of Revolution Medicines by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company's stock valued at $980,036,000 after acquiring an additional 947,448 shares during the period. Geode Capital Management LLC raised its position in Revolution Medicines by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,161,963 shares of the company's stock worth $251,912,000 after purchasing an additional 16,323 shares in the last quarter. Alphabet Inc. acquired a new position in shares of Revolution Medicines in the 2nd quarter worth approximately $551,843,000. Westfield Capital Management Co. LP lifted its holdings in shares of Revolution Medicines by 13.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,845,013 shares of the company's stock valued at $226,605,000 after acquiring an additional 331,046 shares during the period. Finally, General Atlantic L.P. lifted its holdings in Revolution Medicines by 13.7% during the 4th quarter. General Atlantic L.P. now owns 2,812,928 shares of the company's stock valued at $224,050,000 after purchasing an additional 338,500 shares during the last quarter. Institutional investors own 94.34% of the company's stock.

Insider Activity

In related news, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the transaction, the chief financial officer directly owned 123,269 shares of the company's stock, valued at $20,749,870.77. This trade represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lorence H. Kim sold 56,000 shares of the firm's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $203.24, for a total value of $11,381,440.00. Following the completion of the sale, the director directly owned 17,090 shares in the company, valued at approximately $3,473,371.60. This represents a 76.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 300,119 shares of company stock worth $60,605,043. 7.60% of the stock is currently owned by insiders.

Revolution Medicines Stock Up 0.9%

Revolution Medicines stock opened at $192.76 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The company's 50-day moving average is $199.74 and its 200-day moving average is $160.62. The firm has a market capitalization of $41.32 billion, a PE ratio of -21.85 and a beta of 1.40. Revolution Medicines, Inc. has a fifty-two week low of $42.18 and a fifty-two week high of $224.31.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly 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 quarter last year, the company posted ($1.31) earnings per share. Sell-side analysts anticipate that Revolution Medicines, Inc. will post -8.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Revolution Medicines from $203.00 to $251.00 and gave the stock an "outperform" rating in a research report on Thursday, August 27th. Truist Financial lifted their price objective on Revolution Medicines from $231.00 to $239.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. Evercore reaffirmed an "outperform" rating and issued a $320.00 target price on shares of Revolution Medicines in a research note on Thursday, August 27th. Morgan Stanley assumed coverage on Revolution Medicines in a report on Thursday, September 10th. They set an "overweight" rating and a $255.00 price objective on the stock. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $248.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $228.21.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.

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