Nissay Asset Management Corp Japan Acquires 2,744 Shares of Revolution Medicines, Inc. $RVMD

Nissay Asset Management Corp Japan increased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 14.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,164 shares of the company’s stock after purchasing an additional 2,744 shares during the period. Nissay Asset Management Corp Japan’s holdings in Revolution Medicines were worth $3,964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Contravisory Investment Management Inc. bought a new stake in Revolution Medicines in the second quarter worth $32,000. Global Retirement Partners LLC grew its stake in shares of Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Revolution Medicines during the second quarter valued at about $37,000. Arax Advisory Partners purchased a new position in shares of Revolution Medicines in the fourth quarter worth about $38,000. Finally, Silvant Capital Management LLC purchased a new position in shares of Revolution Medicines in the second quarter worth about $41,000. Institutional investors own 94.34% of the company’s stock.

Insider Activity

In other Revolution Medicines news, COO Margaret A. Horn sold 29,600 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the completion of the transaction, the chief operating officer owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. This trade represents a 16.07% 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 80,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $209.20, for a total value of $16,736,000.00. Following the completion of the sale, the insider directly owned 267,330 shares in the company, valued at approximately $55,925,436. This represents a 23.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 212,497 shares of company stock worth $38,206,486. 7.60% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $205.57 on Tuesday. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The firm has a market cap of $44.06 billion, a P/E ratio of -23.31 and a beta of 1.39. Revolution Medicines, Inc. has a 1-year low of $37.56 and a 1-year high of $224.31. The firm has a 50-day moving average of $194.12 and a 200-day moving average of $149.73.

Revolution Medicines (NASDAQ:RVMD) 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 quarter in the prior year, the firm posted ($1.31) earnings per share. Sell-side analysts expect that Revolution Medicines, Inc. will post -8.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RVMD shares. TD Cowen upgraded Revolution Medicines to a “strong-buy” rating in a report on Monday, August 24th. UBS Group lifted their price target on Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday. Evercore reiterated an “outperform” rating and issued a $320.00 price objective on shares of Revolution Medicines in a research report on Thursday. HC Wainwright raised their target price on shares of Revolution Medicines from $195.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Revolution Medicines in a research note on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.74.

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.