Revolution Medicines, Inc. $RVMD Stock Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Revolution Medicines stake by 987.9% in the third quarter, purchasing nearly 2 million additional shares and ending with a 1.02% ownership position valued at approximately $447.7 million. Institutional investors collectively own 94.34% of RVMD.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target near $234.81. Recent targets range from $260 to $320, despite the company reporting a larger-than-expected quarterly loss.
• Revolution Medicines received a positive EU regulatory recommendation for RASONQUE to treat previously treated metastatic pancreatic cancer, supported by trial results showing a 60% reduction in the risk of death versus chemotherapy. Final European Commission authorization is still pending.

Assenagon Asset Management S.A. grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 987.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,181,185 shares of the company's stock after purchasing an additional 1,980,699 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.02% of Revolution Medicines worth $447,710,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RVMD. Curated Wealth Partners LLC purchased a new position in Revolution Medicines in the third quarter valued at about $273,000. Mather Group LLC. purchased a new stake in shares of Revolution Medicines during the 3rd quarter worth approximately $41,000. First Citizens Bank & Trust Co. purchased a new stake in shares of Revolution Medicines during the 3rd quarter worth approximately $692,000. Krilogy Financial LLC raised its holdings in shares of Revolution Medicines by 38.6% in the 3rd quarter. Krilogy Financial LLC now owns 1,751 shares of the company's stock worth $340,000 after purchasing an additional 488 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of Revolution Medicines by 42.3% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 1,949 shares of the company's stock worth $367,000 after purchasing an additional 579 shares during the period. 94.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RVMD shares. Bank of America increased their price objective on Revolution Medicines from $225.00 to $265.00 and gave the company a "buy" rating in a report on Monday, September 21st. The Goldman Sachs Group started coverage on Revolution Medicines in a research note on Thursday, September 24th. They issued a "buy" rating and a $267.00 target price on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Revolution Medicines in a research report on Friday, July 17th. Evercore reaffirmed an "outperform" rating and set a $320.00 price target on shares of Revolution Medicines in a research report on Thursday, August 27th. Finally, HC Wainwright increased their price target on Revolution Medicines from $195.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $234.81.

Revolution Medicines Trading Down 2.2%

Shares of RVMD opened at $189.26 on Friday. The stock's 50-day simple moving average is $203.76 and its 200 day simple moving average is $173.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. Revolution Medicines, Inc. has a 52-week low of $49.05 and a 52-week high of $224.31.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same period in the previous year, the firm earned ($1.31) EPS. Research analysts forecast that Revolution Medicines, Inc. will post -8.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark Goldsmith sold 13,988 shares of the company's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total value of $2,786,969.12. Following the transaction, the insider directly owned 253,342 shares in the company, valued at $50,475,860.08. This represents a 5.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Elizabeth Anderson sold 10,143 shares of the firm's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $193.04, for a total value of $1,958,004.72. Following the completion of the sale, the director directly owned 4,333 shares in the company, valued at approximately $836,442.32. The trade was a 70.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 290,991 shares of company stock valued at $59,422,765 in the last ninety days. 7.60% of the stock is owned by insiders.

More Revolution Medicines News

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

• Positive Sentiment: The European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) issued a positive opinion recommending marketing authorization for RASONQUE (daraxonrasib) as a once-daily treatment for adults with metastatic pancreatic cancer previously treated with at least one systemic therapy. Final authorization from the European Commission is still required. Revolution Medicines RASONQUE positive CHMP opinion
• Positive Sentiment: The recommendation was based on the Phase 3 RASolute 302 trial, which showed a 60% reduction in the risk of death versus chemotherapy, with statistically significant and clinically meaningful improvements across primary and key secondary endpoints. Benefits were reported regardless of tumor RAS mutation status, potentially broadening the drug’s addressable market. Revolution Medicines pancreatic cancer drug EU recommendation
• Positive Sentiment: Needham reaffirmed its Buy rating and set a $275 price target, while RBC raised its target to $260 and maintained an Outperform rating. These targets indicate analysts see substantial upside from the quoted share price. Analyst ratings and price targets
• Neutral Sentiment: Brokerages’ average target price is $234.76, reflecting continued confidence in RVMD’s pipeline and commercial prospects. However, the company remains loss-making, so valuation and execution expectations are high. Revolution Medicines average broker price target

About Revolution Medicines

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted therapies for patients with cancer. The company's research centers on the RAS signaling pathway, a key driver of tumor growth that is altered in many cancers, including those involving KRAS mutations.

Its pipeline includes RAS(ON) inhibitors designed to target active RAS proteins and address a range of RAS-driven tumors. Key development programs include daraxonrasib (RMC-6236), a broad-spectrum RAS inhibitor, and zoldonrasib (RMC-9805), an investigational inhibitor aimed at KRAS G12D-mutated cancers.

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