Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Revolution Medicines, Inc. $RVMD

Key Points

• Mitsubishi UFJ Asset Management purchased 186,924 Revolution Medicines shares worth approximately $35 million, giving it a 0.09% stake. Institutional investors collectively own 94.34% of the company.
• Analysts remain broadly optimistic, with an overall “Moderate Buy” rating and several firms raising price targets to between $201 and $240. However, insiders sold $21.5 million of stock during the last quarter.
• RVMD shares opened at $214.66, near their 52-week high, despite the company reporting a quarterly loss of $3.06 per share versus the expected $2.04 loss.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 186,924 shares of the company's stock, valued at approximately $35,007,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of Revolution Medicines at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nextech Invest Ltd. increased its stake in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after buying an additional 1,304,347 shares during the last quarter. Millennium Management LLC lifted its position in shares of Revolution Medicines by 681.8% during the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company's stock worth $5,529,000 after buying an additional 136,353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Revolution Medicines by 14.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company's stock worth $10,615,000 after buying an additional 37,345 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Revolution Medicines by 19.3% in the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company's stock worth $8,352,000 after buying an additional 36,760 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Revolution Medicines by 87.9% in the second quarter. Jump Financial LLC now owns 15,258 shares of the company's stock valued at $561,000 after acquiring an additional 7,137 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,020 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 $1,564,322.40. Following the completion of the sale, the insider directly owned 267,330 shares of the company's stock, valued at $41,735,559.60. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the business's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the sale, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 132,497 shares of company stock valued at $21,470,486 in the last quarter. Insiders own 7.60% of the company's stock.

Wall Street Analyst Weigh In

RVMD has been the subject of a number of research analyst reports. 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 report on Tuesday, August 11th. Wedbush boosted their price objective on Revolution Medicines from $192.10 to $201.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Evercore restated an "outperform" rating and issued a $230.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 6th. Needham & Company LLC raised their target price on Revolution Medicines from $236.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada raised their target price on Revolution Medicines from $182.00 to $203.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $166.33.

Revolution Medicines Stock Down 0.6%

Revolution Medicines stock opened at $214.66 on Thursday. Revolution Medicines, Inc. has a twelve month low of $35.42 and a twelve month high of $220.34. The firm has a 50 day moving average price of $185.62 and a 200-day moving average price of $143.24. 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 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 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 period in the prior year, the firm posted ($1.31) EPS. As a group, equities analysts predict that Revolution Medicines, Inc. will post -8.82 EPS for the current year.

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.

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