Cibc World Market Inc. Takes $2.64 Million Position in Revolution Medicines, Inc. $RVMD

Key Points

• CIBC World Markets acquired 14,093 Revolution Medicines shares worth approximately $2.64 million. Institutional investors own 94.34% of RVMD, with Alphabet, Norges Bank and Avoro Capital among other major recent buyers.
• Analyst sentiment remains broadly bullish: RVMD has a consensus “Moderate Buy” rating and an average price target of $167.89, although the stock opened at $215.44, near its 52-week high.
• Revolution Medicines reported a quarterly loss of $3.06 per share, missing expectations of a $2.04 loss. Insiders sold 212,497 shares worth $38.2 million during the last quarter, including a $16.7 million sale by Mark Goldsmith.

Cibc World Market Inc. acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 14,093 shares of the company's stock, valued at approximately $2,639,000.

A number of other institutional investors have also added to or reduced their stakes in RVMD. Alphabet Inc. bought a new position in Revolution Medicines in the 2nd quarter worth about $551,843,000. Norges Bank bought a new stake in shares of Revolution Medicines during the fourth quarter valued at about $195,568,000. Avoro Capital Advisors LLC bought a new stake in shares of Revolution Medicines during the fourth quarter valued at about $172,840,000. UBS Group AG lifted its holdings in shares of Revolution Medicines by 183.6% in the fourth quarter. UBS Group AG now owns 3,087,937 shares of the company's stock worth $245,954,000 after buying an additional 1,998,972 shares in the last quarter. Finally, Polar Capital Holdings Plc lifted its holdings in shares of Revolution Medicines by 321.2% in the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company's stock worth $160,398,000 after buying an additional 1,535,686 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wedbush boosted their price objective on shares of Revolution Medicines from $192.10 to $201.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Truist Financial increased their target price on shares of Revolution Medicines from $210.00 to $231.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Revolution Medicines in a research note on Friday, July 17th. TD Cowen raised shares of Revolution Medicines to a "strong-buy" rating in a report on Monday. Finally, Piper Sandler boosted their price target on shares of Revolution Medicines to $172.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Two equities 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 issued a Sell rating to the stock. According to data from MarketBeat, Revolution Medicines currently has a consensus rating of "Moderate Buy" and an average target price of $167.89.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $215.44 on Thursday. The business's 50-day moving average price is $191.27 and its two-hundred day moving average price is $147.30. Revolution Medicines, Inc. has a twelve month low of $35.64 and a twelve month high of $220.34. The stock has a market cap of $46.18 billion, a P/E ratio of -24.43 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 (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the prior year, the firm earned ($1.31) earnings per share. As a group, equities analysts predict that Revolution Medicines, Inc. will post -8.82 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other news, COO Margaret A. Horn sold 29,600 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the transaction, the chief operating officer owned 154,647 shares of the company's stock, valued at $24,762,077.64. This represents a 16.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 80,000 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the sale, the insider owned 267,330 shares in the company, valued at approximately $55,925,436. This trade represents a 23.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 212,497 shares of company stock valued at $38,206,486 over the last quarter. Company insiders own 7.60% of the company's stock.

Key Stories Impacting Revolution Medicines

Here are the key news stories impacting Revolution Medicines this week:

• Positive Sentiment: The FDA approval expands Revolution Medicines beyond clinical development and opens a potentially significant revenue opportunity in a cancer with substantial unmet treatment needs. The drug’s accelerated review and favorable efficacy profile reinforce investor confidence in the company’s RAS/MAPK-focused platform. Reuters FDA approval article
• Positive Sentiment: Management priced RASONQUE at approximately $39,800 per month, establishing a high-value commercial product and giving investors an initial benchmark for potential sales. RASONQUE pricing article
• Positive Sentiment: TD Cowen upgraded RVMD to “strong buy,” while other analysts have maintained bullish ratings and price targets above recent trading levels. Institutional ownership and reported purchases by some funds also provide supportive sentiment.
• Neutral Sentiment: The stock’s reaction has been relatively restrained despite the approval, likely because investors had anticipated the decision and RVMD already trades at an elevated valuation after a substantial run-up.
• Negative Sentiment: The $39,800 monthly list price could intensify scrutiny from insurers, policymakers and patients, potentially limiting access or slowing adoption. This pricing concern may be offsetting some of the enthusiasm surrounding the FDA decision. Pricing impact article
• Negative Sentiment: Insider Mark Goldsmith sold 80,000 shares for about $16.7 million, reducing his holdings by roughly 23%. Although one insider transaction is not necessarily a change in fundamentals, it can create a modest sentiment overhang after the stock’s sharp appreciation. Insider sale article

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.

Want to see what other hedge funds are holding RVMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source