Revolution Medicines, Inc. $RVMD Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 4,828.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 270,972 shares of the company’s stock after buying an additional 265,474 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.14% of Revolution Medicines worth $26,352,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RVMD. Indiana Trust & Investment Management Co bought a new stake in Revolution Medicines in the fourth quarter worth about $32,000. Global Retirement Partners LLC boosted its position in shares of Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC bought a new position in shares of Revolution Medicines during the 4th quarter valued at about $33,000. Arax Advisory Partners acquired a new position in shares of Revolution Medicines in the 4th quarter worth approximately $38,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Revolution Medicines in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Down 1.6%

Shares of NASDAQ:RVMD opened at $183.95 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The company has a market cap of $39.11 billion, a PE ratio of -26.02 and a beta of 1.37. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $193.82. The firm has a 50 day simple moving average of $162.03 and a 200 day simple moving average of $125.51.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the previous year, the business earned ($1.13) EPS. As a group, research analysts expect that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 29,600 shares of Revolution Medicines stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the transaction, the chief operating officer owned 154,647 shares in the company, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the transaction, the insider directly owned 291,876 shares in the company, valued at $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 252,497 shares of company stock valued at $39,481,286. 7.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RVMD shares. Oppenheimer boosted their target price on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. HC Wainwright restated a “buy” rating and issued a $195.00 price target on shares of Revolution Medicines in a research report on Monday, July 6th. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target on the stock. Truist Financial upped their price target on Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Needham & Company LLC increased their price objective on Revolution Medicines from $183.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Two equities 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.00.

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.