Pictet Asset Management Holding SA Reduces Stake in Revolution Medicines, Inc. $RVMD

Key Points

• Pictet Asset Management reduced its stake in Revolution Medicines by 13.3%, selling 174,620 shares to finish Q4 with 1,137,121 shares (~0.59% of the company) valued at about $90.65 million.
• Institutional investors own roughly 94.34% of RVMD, with large increases from holders like Vanguard; the stock traded up about 10% to $144.83 (market cap ~$28.7B) even as the company posts negative EPS, and analysts carry an average "Buy" rating with a $78.94 target.
• Insiders have been net sellers recently—184,592 shares (~$24.5M) sold in the last 90 days, including sales by the CFO and Stephen Kelsey—while corporate insiders still hold about 8.20% of the stock.

Pictet Asset Management Holding SA lowered its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,137,121 shares of the company's stock after selling 174,620 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.59% of Revolution Medicines worth $90,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company's stock worth $1,331,739,000 after buying an additional 1,056,792 shares during the period. Farallon Capital Management LLC lifted its holdings in Revolution Medicines by 2.1% in the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company's stock worth $683,020,000 after buying an additional 300,000 shares during the period. Baker BROS. Advisors LP lifted its holdings in Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company's stock worth $441,565,000 after buying an additional 90,385 shares during the period. Nextech Invest Ltd. lifted its holdings in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after buying an additional 1,304,347 shares during the period. Finally, Paradigm Biocapital Advisors LP lifted its holdings in Revolution Medicines by 2.1% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company's stock worth $290,628,000 after buying an additional 130,000 shares during the period. Hedge funds and other institutional investors own 94.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wedbush reiterated an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. UBS Group began coverage on Revolution Medicines in a research note on Friday, February 27th. They issued a "buy" rating for the company. Jefferies Financial Group began coverage on Revolution Medicines in a research note on Monday, March 16th. They issued a "buy" rating for the company. Benchmark restated an "overweight" rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Finally, Evercore restated an "outperform" rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $78.94.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 4,302 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $427,962.96. Following the completion of the transaction, the insider owned 295,398 shares in the company, valued at approximately $29,386,193.04. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 2,753 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $273,868.44. Following the transaction, the chief financial officer owned 125,512 shares of the company's stock, valued at $12,485,933.76. The trade was a 2.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 184,592 shares of company stock valued at $24,499,532 in the last ninety days. Corporate insiders own 8.20% of the company's stock.

Revolution Medicines Trading Up 10.0%

RVMD opened at $144.83 on Wednesday. The stock has a market cap of $28.70 billion, a PE ratio of -24.51 and a beta of 1.01. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $109.16 and a 200-day moving average of $91.08. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $155.70.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.30). During the same quarter in the prior year, the firm posted ($1.12) earnings per share. Equities research analysts predict that Revolution Medicines, Inc. will post -7.42 earnings per share for the current fiscal year.

Revolution Medicines 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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