Deutsche Bank AG Makes New Investment in Revolution Medicines, Inc. $RVMD

Key Points

• Deutsche Bank acquired 888,019 shares of Revolution Medicines in the second quarter, valued at approximately $166.3 million and representing about 0.42% of the company. Institutional investors collectively own 94.34% of RVMD.
• Analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of $166.33, although several firms raised targets as high as $231.
• RVMD opened at $214.66 after reporting a quarterly loss of $3.06 per share, missing expectations by $1.02. Insiders have sold 132,497 shares worth $21.47 million over the past 90 days, primarily to cover tax obligations from vested equity awards.

Deutsche Bank AG purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 888,019 shares of the company's stock, valued at approximately $166,308,000. Deutsche Bank AG owned about 0.42% of Revolution Medicines as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Meeder Advisory Services Inc. raised its stake in shares of Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company's stock worth $401,000 after acquiring an additional 120 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Revolution Medicines by 1.3% in the fourth 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. Contravisory Investment Management Inc. purchased a new position in Revolution Medicines in the second quarter worth $32,000. Allworth Financial LP increased its position in shares of Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company's stock worth $46,000 after purchasing an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Revolution Medicines by 44.7% during the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company's stock worth $60,000 after purchasing an additional 232 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RVMD shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Revolution Medicines in a research report on Friday, July 17th. Wolfe Research reaffirmed an "outperform" rating and set a $220.00 target price on shares of Revolution Medicines in a research report on Monday, August 10th. Truist Financial increased their price target on Revolution Medicines from $210.00 to $231.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada raised their price target on Revolution Medicines from $182.00 to $203.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Finally, Wedbush boosted their price target on Revolution Medicines from $192.10 to $201.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. One equities research analyst has 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $166.33.

Revolution Medicines Trading Down 0.6%

NASDAQ:RVMD opened at $214.66 on Thursday. The company has a market capitalization of $46.01 billion, a P/E ratio of -24.34 and a beta of 1.39. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines, Inc. has a 12 month low of $35.42 and a 12 month high of $220.34. The firm has a fifty day simple moving average of $185.62 and a 200-day simple moving average of $143.24.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the previous year, the business earned ($1.31) earnings per share. On average, equities research analysts anticipate that Revolution Medicines, Inc. will post -8.82 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In related news, COO Margaret A. Horn sold 60,400 shares of Revolution Medicines stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the completion of the sale, the chief operating officer owned 158,222 shares of the company's stock, valued at $25,342,417.74. The trade was a 27.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the sale, the insider directly owned 291,876 shares of the company's stock, valued at $45,567,681.12. This trade represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 132,497 shares of company stock valued at $21,470,486. 7.60% of the stock is owned by company insiders.

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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