MUFG Securities EMEA plc Buys New Holdings in Revolution Medicines, Inc. $RVMD

Key Points

• MUFG Securities EMEA plc initiated a new position in Revolution Medicines during the fourth quarter, buying 123,000 shares valued at about $9.8 million.
• The stock has surged near its 52-week high, opening at $157.48 versus a 12-month range of $34.00 to $158.13, giving the company a market cap of about $33.5 billion.
• Revolution Medicines reported a wider-than-expected quarterly loss of ($2.29) per share and insiders sold shares in recent months, even as analysts mostly maintain a Buy view with an average target price of $111.35.

MUFG Securities EMEA plc bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 123,000 shares of the company's stock, valued at approximately $9,797,000. MUFG Securities EMEA plc owned approximately 0.06% of Revolution Medicines as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RVMD. Nextech Invest Ltd. raised its holdings in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after acquiring an additional 1,304,347 shares in the last quarter. Millennium Management LLC raised its holdings in Revolution Medicines by 681.8% in the first quarter. Millennium Management LLC now owns 156,353 shares of the company's stock valued at $5,529,000 after acquiring an additional 136,353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Revolution Medicines by 14.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company's stock valued at $10,615,000 after acquiring an additional 37,345 shares in the last quarter. Invesco Ltd. raised its holdings in Revolution Medicines by 19.3% in the second quarter. Invesco Ltd. now owns 227,019 shares of the company's stock valued at $8,352,000 after acquiring an additional 36,760 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in 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. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Price Performance

RVMD stock opened at $157.48 on Monday. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $158.13. The company's 50 day moving average is $129.46 and its two-hundred day moving average is $104.80. The stock has a market cap of $33.48 billion, a P/E ratio of -22.27 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same period in the prior year, the business earned ($1.13) EPS. Research analysts expect that Revolution Medicines, Inc. will post -7.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RVMD. Weiss Ratings reissued a "sell (d-)" rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Evercore reissued an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Truist Financial began coverage on shares of Revolution Medicines in a report on Monday, May 18th. They set a "buy" rating and a $179.00 price objective on the stock. UBS Group began coverage on shares of Revolution Medicines in a report on Friday, February 27th. They set a "buy" rating on the stock. Finally, Wedbush raised their price objective on shares of Revolution Medicines to $165.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $111.35.

Insider Buying and Selling at Revolution Medicines

In other news, CFO Jack Anders sold 2,753 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the transaction, the chief financial officer directly owned 125,512 shares in the company, valued at approximately $12,485,933.76. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Margaret A. Horn sold 4,583 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $455,916.84. Following the transaction, the chief operating officer owned 157,570 shares in the company, valued at approximately $15,675,063.60. This trade represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 148,592 shares of company stock valued at $20,855,132. 7.60% of the stock is owned by company insiders.

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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