Amundi Buys 118,493 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• Amundi significantly increased its Revolution Medicines stake by 590.5%, purchasing 118,493 additional shares to own 138,560 shares worth approximately $13.5 million. Institutional investors collectively own 94.34% of the company.
• Revolution Medicines shares opened at $193.46 after rising 6%, near their 52-week high of $194.56. The company reported a first-quarter loss of $2.29 per share, missing analysts’ $1.83 consensus estimate.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and several firms raising price targets. However, insiders sold 132,497 shares valued at approximately $21.5 million during the latest quarter.

Amundi lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 590.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,560 shares of the company's stock after acquiring an additional 118,493 shares during the period. Amundi owned approximately 0.07% of Revolution Medicines worth $13,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Advisory Services Inc. grew its holdings 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 buying an additional 120 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Revolution Medicines by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock valued at $802,000 after acquiring an additional 125 shares in the last quarter. Deutsche Bank AG lifted its stake in Revolution Medicines by 0.4% in the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company's stock valued at $2,566,000 after acquiring an additional 130 shares in the last quarter. Signaturefd LLC boosted its position in Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company's stock worth $52,000 after acquiring an additional 163 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Revolution Medicines by 57.2% during the 4th quarter. Allworth Financial LP now owns 577 shares of the company's stock worth $46,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Up 6.0%

RVMD stock opened at $193.46 on Wednesday. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $194.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The stock has a market capitalization of $41.13 billion, a price-to-earnings ratio of -27.36 and a beta of 1.39. The business's fifty day moving average price is $173.96 and its two-hundred day moving average price is $135.92.

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

Insiders Place Their Bets

In related news, insider Stephen Michael Kelsey sold 4,175 shares of the firm's 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 transaction, the insider owned 291,876 shares in the company, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 123,269 shares of the company's stock, valued at approximately $20,749,870.77. This trade represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 132,497 shares of company stock valued at $21,470,486 in the last quarter. Company insiders own 7.60% of the company's stock.

Wall Street Analyst Weigh In

RVMD has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of Revolution Medicines to $172.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Royal Bank Of Canada raised their price objective on Revolution Medicines from $165.00 to $182.00 and gave the company an "outperform" rating in a report on Tuesday, June 2nd. Needham & Company LLC upped their target price on Revolution Medicines from $235.00 to $236.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Oppenheimer increased their price target on Revolution Medicines from $165.00 to $195.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Finally, Truist Financial raised their price target on Revolution Medicines from $179.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.67.

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.

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