National Pension Service Invests $51.24 Million in Revolution Medicines, Inc. $RVMD

Key Points

• National Pension Service purchased 273,604 shares of Revolution Medicines in the second quarter, valued at approximately $51.24 million and representing a 0.13% stake. Institutional investors collectively own 94.34% of the company.
• Wall Street sentiment remains positive, with 19 of 21 analysts rating the stock Buy or Strong Buy. The average price target is $226.17, with recent targets ranging from $230 to $260.
• Revolution Medicines reported a second-quarter loss of $3.06 per share, missing the $2.04 consensus estimate. Meanwhile, insiders sold $53.17 million worth of shares over the past 90 days, and RVMD recently traded near $203.77.

National Pension Service purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 273,604 shares of the company's stock, valued at approximately $51,241,000. National Pension Service owned 0.13% of Revolution Medicines at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new position in Revolution Medicines during the 2nd quarter worth $32,000. Global Retirement Partners LLC lifted its stake in shares of Revolution Medicines by 1,002.8% in the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company's stock worth $32,000 after acquiring an additional 361 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Revolution Medicines in the second quarter valued at about $37,000. Arax Advisory Partners purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at about $38,000. Finally, Silvant Capital Management LLC acquired a new position in shares of Revolution Medicines during the second quarter worth about $41,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, Director Lorence Kim sold 17,090 shares of Revolution Medicines stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $209.82, for a total transaction of $3,585,823.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sushil Patel sold 5,580 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the sale, the director directly owned 21,656 shares in the company, valued at $4,071,111.44. This trade represents a 20.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 285,587 shares of company stock worth $53,173,750 in the last 90 days. Insiders own 7.60% of the company's stock.

Wall Street Analyst Weigh In

RVMD has been the subject of several analyst reports. Oppenheimer increased their price target on shares of Revolution Medicines from $230.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. Stifel Nicolaus boosted their target price on Revolution Medicines from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday. Truist Financial increased their target price on Revolution Medicines from $231.00 to $239.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. Morgan Stanley started coverage on Revolution Medicines in a report on Thursday. They issued an "overweight" rating and a $255.00 price target for the company. Finally, TD Cowen upgraded Revolution Medicines to a "strong-buy" rating in a research note on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $226.17.

Revolution Medicines Trading Up 0.2%

Shares of Revolution Medicines stock opened at $203.77 on Friday. The company has a 50-day moving average of $198.66 and a two-hundred day moving average of $156.23. Revolution Medicines, Inc. has a 12-month low of $42.18 and a 12-month high of $224.31. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock has a market cap of $43.68 billion, a PE ratio of -23.10 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same period last year, the business posted ($1.31) earnings per share. On average, research analysts anticipate that Revolution Medicines, Inc. will post -8.87 EPS for the current fiscal year.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.

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