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

Key Points

• Mirae Asset Global Investments boosted its stake in Revolution Medicines by 194.6% in Q4 to 21,289 shares valued at $1.70M, and institutional investors now own 94.34% of the stock.
• Significant insider selling occurred recently: Mark A. Goldsmith sold 120,000 shares for $18.01M and insiders have sold 184,592 shares worth $24.5M in the last 90 days, leaving insiders with 8.20% ownership.
• Shares opened at $134.48 and were down about 5%; the company missed quarterly EPS (−$1.86 vs. −$1.56), has a $26.65B market cap, yet analysts' consensus remains a "Buy" with an average target of $78.94, well below the current price.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 194.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,289 shares of the company's stock after acquiring an additional 14,062 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Revolution Medicines were worth $1,696,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of RVMD. Nextech Invest Ltd. boosted its position in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Millennium Management LLC boosted its position in Revolution Medicines by 681.8% during the first quarter. Millennium Management LLC now owns 156,353 shares of the company's stock worth $5,529,000 after acquiring an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Revolution Medicines by 14.2% during 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 worth $10,615,000 after acquiring an additional 37,345 shares during the last quarter. Invesco Ltd. boosted its position in Revolution Medicines by 19.3% during the second quarter. Invesco Ltd. now owns 227,019 shares of the company's stock worth $8,352,000 after acquiring an additional 36,760 shares during the last quarter. Finally, Jump Financial LLC boosted its position in Revolution Medicines by 87.9% during the second quarter. Jump Financial LLC now owns 15,258 shares of the company's stock worth $561,000 after acquiring an additional 7,137 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Insiders Place Their Bets

In other news, insider Stephen Michael Kelsey sold 4,302 shares of the firm's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the transaction, the insider owned 295,398 shares of the company's stock, valued at approximately $29,386,193.04. This trade represents a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark A. Goldsmith sold 120,000 shares of the firm's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the transaction, the insider directly owned 276,698 shares in the company, valued at approximately $41,529,602.82. This represents a 30.25% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 184,592 shares of company stock worth $24,499,532. 8.20% of the stock is owned by company insiders.

Revolution Medicines Stock Down 5.0%

Shares of RVMD opened at $134.48 on Friday. The firm has a market cap of $26.65 billion, a PE ratio of -22.75 and a beta of 1.01. The company's fifty day moving average is $106.78 and its two-hundred day moving average is $88.60. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $155.70. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.30). During the same quarter in the prior year, the business posted ($1.12) EPS. Analysts forecast that Revolution Medicines, Inc. will post -7.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They set a "buy" rating on the stock. Truist Financial upgraded shares of Revolution Medicines to a "strong-buy" rating in a report on Wednesday, March 25th. Stifel Nicolaus reiterated a "buy" rating on shares of Revolution Medicines in a report on Monday. Evercore reiterated an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Finally, HC Wainwright reiterated a "buy" rating on shares of Revolution Medicines in a report on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $78.94.

About Revolution Medicines

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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