Revolution Medicines, Inc. $RVMD Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a new position in Revolution Medicines, buying 12,709 shares valued at about $2.6 million. Institutional investors collectively own 94.34% of the company’s stock.
• Revolution Medicines reported third-quarter revenue of $197.56 million, well above estimates, and a narrower-than-expected loss per share. The revenue reflected strong early uptake of Rasonque, with more than 5,000 patients treated after its U.S. launch.
• Analysts are broadly positive, with a consensus “Moderate Buy” rating and a $263.15 average price target. However, the article notes that the company’s roughly $40 billion valuation leaves high expectations for continued launch growth and clinical progress.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,709 shares of the company's stock, valued at approximately $2,609,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alphabet Inc. purchased a new position in shares of Revolution Medicines during the 2nd quarter valued at about $551,843,000. Assenagon Asset Management S.A. lifted its position in Revolution Medicines by 987.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company's stock worth $447,710,000 after buying an additional 1,980,699 shares during the last quarter. Bank of America Corp DE bought a new stake in Revolution Medicines in the 2nd quarter worth approximately $184,267,000. Deutsche Bank AG purchased a new stake in Revolution Medicines in the second quarter worth approximately $166,308,000. Finally, Bank of New York Mellon Corp purchased a new stake in Revolution Medicines in the second quarter worth approximately $112,566,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Margaret Horn sold 4,967 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $989,625.08. Following the completion of the sale, the chief operating officer owned 149,680 shares of the company's stock, valued at approximately $29,822,243.20. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Goldsmith sold 13,988 shares of the firm's stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $2,786,969.12. Following the completion of the transaction, the insider owned 253,342 shares in the company, valued at $50,475,860.08. This represents a 5.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 290,991 shares of company stock valued at $59,422,765. Corporate insiders own 7.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Oppenheimer increased their price target on shares of Revolution Medicines from $230.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a report on Thursday, October 15th. Wall Street Zen raised shares of Revolution Medicines from a "sell" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada upped their price objective on shares of Revolution Medicines from $260.00 to $321.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Sanford C. Bernstein increased 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. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $263.15.

Revolution Medicines Trading Up 8.2%

NASDAQ RVMD opened at $192.28 on Friday. Revolution Medicines, Inc. has a 1-year low of $58.91 and a 1-year high of $224.31. The company has a current ratio of 8.36, a quick ratio of 11.38 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average of $196.88 and a 200-day moving average of $157.56. The firm has a market cap of $41.21 billion, a PE ratio of -21.11 and a beta of 1.44.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($1.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.35) by $0.45. The company had revenue of $197.56 million for the quarter, compared to the consensus estimate of $25.58 million. During the same quarter in the previous year, the business earned ($1.61) earnings per share. As a group, sell-side analysts forecast that Revolution Medicines, Inc. will post -7.88 EPS for the current year.

Revolution Medicines News Summary

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

• Positive Sentiment: Strong early Rasonque sales: Revolution Medicines reported $197.6 million in third-quarter revenue, beating estimates, with Rasonque generating that amount in just five weeks after its U.S. launch. The company said more than 5,000 patients had been treated. The quarterly loss per share also came in narrower than analysts expected. Zacks article on Q3 results and Rasonque uptake
• Positive Sentiment: Analyst targets moved higher: HC Wainwright raised its target to $350 and maintained a Buy rating. RBC lifted its target to $321 with an Outperform rating; Guggenheim, Truist and TD Cowen also raised targets and retained positive ratings. These revisions signal optimism about the drug’s commercial potential and pipeline. HC Wainwright recommendations RBC target increase
• Neutral Sentiment: Long-term opportunity, but expectations are high: Rasonque’s clinical results and potential expansion into other solid tumors support the pipeline outlook. However, commentary noted that RVMD’s roughly $40 billion valuation already reflects substantial expectations, making sustained launch growth and upcoming clinical results important. Seeking Alpha analysis of Q3 results
• Negative Sentiment: Some long-range forecasts were cut: Brookline Capital Markets lowered its FY2029 EPS estimate to $8.49 from $8.94 and its FY2030 estimate to $17.41 from $18.15, though it kept a Buy rating and a $318 target.

About Revolution Medicines

Revolution Medicines, Inc is a biotechnology company focused on developing targeted therapies for patients with RAS-driven cancers. Founded in 2014 and headquartered in Redwood City, California, the company's research centers on RAS proteins, which can contribute to the growth of many cancers.

The company's pipeline includes drug candidates designed to inhibit mutant RAS proteins, including daraxonrasib (RMC-6236), which targets multiple RAS variants, and candidates directed at specific KRAS mutations.

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