Revolution Medicines, Inc. $RVMD Stock: Pictet Asset Management Holding SA Cuts Holdings

Key Points

• Pictet Asset Management trimmed its stake by 1.8% in the third quarter, selling 17,920 shares; it still held 996,974 shares valued at about $204.5 million. Institutional investors collectively own 94.34% of RVMD.
• Revolution Medicines reported third-quarter revenue of $197.56 million, well above estimates, and a smaller-than-expected loss per share. Revenue was driven by Rasonque, which generated about $197.6 million in its first five weeks on the U.S. market.
• Analyst sentiment is broadly positive: the stock carries a “Moderate Buy” consensus and an average price target of $263.15, with several firms raising targets. The article also notes that the company’s roughly $40 billion valuation leaves high expectations for continued launch growth and clinical progress.

Pictet Asset Management Holding SA lessened its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 996,974 shares of the company's stock after selling 17,920 shares during the period. Pictet Asset Management Holding SA owned approximately 0.47% of Revolution Medicines worth $204,528,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RVMD. Burkett Financial Services LLC bought a new position in shares of Revolution Medicines during the third quarter worth approximately $27,000. Contravisory Investment Management Inc. acquired a new stake in Revolution Medicines during the 2nd quarter worth approximately $32,000. ABS Investment Management LLC acquired a new stake in Revolution Medicines during the 2nd quarter worth approximately $337,104,000. Johnson Financial Group Inc. bought a new stake in Revolution Medicines in the 2nd quarter valued at $37,000. Finally, Mather Group LLC. bought a new stake in Revolution Medicines in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Stock Up 8.2%

Shares of RVMD opened at $192.28 on Friday. Revolution Medicines, Inc. has a 12 month low of $58.91 and a 12 month high of $224.31. The firm's 50 day moving average is $196.88 and its 200-day moving average is $157.56. The stock has a market capitalization of $41.21 billion, a PE ratio of -21.11 and a beta of 1.44. The company has a current ratio of 8.36, a quick ratio of 11.38 and a debt-to-equity ratio of 0.44.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($1.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.35) by $0.45. The company had revenue of $197.56 million during the quarter, compared to the consensus estimate of $25.58 million. During the same quarter last year, the firm posted ($1.61) earnings per share. Equities research analysts forecast that Revolution Medicines, Inc. will post -7.88 EPS for the current year.

Insider Activity

In related news, COO Margaret A. Horn sold 4,967 shares of the firm's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total value of $989,625.08. Following the transaction, the chief operating officer owned 149,680 shares in the company, valued at approximately $29,822,243.20. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 13,988 shares of the business's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total value of $2,786,969.12. Following the completion of the transaction, the insider directly owned 253,342 shares of the company's stock, valued at approximately $50,475,860.08. This trade represents a 5.23% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 290,991 shares of company stock worth $59,422,765. 7.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RVMD. Truist Financial reaffirmed a "buy" rating and issued a $261.00 price objective (up from $241.00) on shares of Revolution Medicines in a report on Thursday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Revolution Medicines in a research report on Thursday, October 15th. Evercore reissued an "outperform" rating and set a $320.00 target price on shares of Revolution Medicines in a report on Thursday, August 27th. Piper Sandler lifted their target price on Revolution Medicines from $210.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, HC Wainwright boosted their target price on shares of Revolution Medicines from $280.00 to $350.00 and gave the company a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued 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 stock has an average rating of "Moderate Buy" and a consensus price target of $263.15.

Key Stories Impacting Revolution Medicines

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.

Revolution Medicines Profile

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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