Legal & General Group Plc Invests $71.42 Million in Revolution Medicines, Inc. $RVMD

Legal & General Group Plc purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 381,366 shares of the company's stock, valued at approximately $71,422,000. Legal & General Group Plc owned approximately 0.18% of Revolution Medicines at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Contravisory Investment Management Inc. acquired a new stake in Revolution Medicines during the second quarter worth approximately $32,000. Johnson Financial Group Inc. acquired a new position in Revolution Medicines in the 2nd quarter valued at $37,000. Northwestern Mutual Wealth Management Co. acquired a new position in Revolution Medicines in the 2nd quarter valued at $41,000. Silvant Capital Management LLC acquired a new position in Revolution Medicines in the 2nd quarter valued at $41,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Revolution Medicines during the 2nd quarter valued at $66,000. 94.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on RVMD shares. Needham & Company LLC increased their target price on Revolution Medicines from $236.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Piper Sandler upped their price objective on shares of Revolution Medicines to $172.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Evercore reaffirmed an "outperform" rating and set a $320.00 price objective on shares of Revolution Medicines in a research report on Thursday. Sanford C. Bernstein raised their target price on shares of Revolution Medicines from $151.00 to $179.00 and gave the company a "market perform" rating in a report on Friday, August 21st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Revolution Medicines has an average rating of "Moderate Buy" and a consensus price target of $193.28.

Revolution Medicines Trading Up 2.7%

Shares of RVMD stock opened at $221.15 on Friday. The stock's fifty day moving average price is $192.43 and its two-hundred day moving average price is $148.17. The company has a market cap of $47.40 billion, a PE ratio of -25.07 and a beta of 1.39. Revolution Medicines, Inc. has a fifty-two week low of $37.56 and a fifty-two week high of $224.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly 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 prior year, the company posted ($1.31) earnings per share. Equities analysts predict that Revolution Medicines, Inc. will post -8.82 EPS for the current fiscal year.

Key Revolution Medicines News

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

• Positive Sentiment: Landmark FDA approval: RASONQUE is described as the first broad RAS-targeted medicine approved for metastatic pancreatic cancer, addressing a disease with limited treatment options and potentially validating Revolution Medicines’ RAS/MAPK drug-development platform. FDA approval announcement
• Positive Sentiment: Commercial opportunity expands: Analysts said the RASONQUE label creates a sizable opportunity, while RBC viewed the company’s planned launch as rapid. Management’s discussion also emphasized the approval’s implications for broader RAS-driven cancer treatment and future indications. Rasonque label expansion analysis
• Positive Sentiment: Higher analyst targets: Truist raised its price target from $231 to $239 and maintained a Buy rating, while Wedbush increased its target from $201 to $225 and kept an Outperform rating. These revisions reflect improved confidence following the approval. Analyst price target changes
• Neutral Sentiment: Pricing and launch execution will matter: Revolution Medicines priced RASONQUE at approximately $39,800 per month. The price supports substantial revenue potential, but payer coverage, patient access and real-world adoption could influence how quickly the approval translates into sales. Rasonque pricing article
• Negative Sentiment: Insider selling and ongoing losses remain risks: Insider Mark Goldsmith sold 80,000 shares for roughly $16.7 million, reducing his holdings by about 23%. Revolution Medicines also remains unprofitable, and its latest quarterly loss exceeded analyst expectations, so the stock’s valuation depends heavily on successful commercialization and pipeline progress. Insider sale report

Insider Transactions at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 80,000 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $209.20, for a total value of $16,736,000.00. Following the completion of the transaction, the insider owned 267,330 shares of the company's stock, valued at approximately $55,925,436. This represents a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Michael Kelsey sold 4,175 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the sale, the insider owned 291,876 shares in the company, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. 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 have sold 212,497 shares of company stock valued at $38,206,486. Company insiders own 7.60% of the company's stock.

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.

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.

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