The Manufacturers Life Insurance Company purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 58,991 shares of the company’s stock, valued at approximately $11,048,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of RVMD. Contravisory Investment Management Inc. bought a new position in shares of Revolution Medicines during the second quarter valued at about $32,000. Global Retirement Partners LLC increased its holdings in 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 during the period. Torren Management LLC purchased a new position in Revolution Medicines during the 4th quarter valued at about $33,000. Johnson Financial Group Inc. bought a new position in Revolution Medicines during the 2nd quarter valued at approximately $37,000. Finally, Arax Advisory Partners purchased a new stake in Revolution Medicines in the 4th quarter worth approximately $38,000. Institutional investors own 94.34% of the company’s stock.
Insiders Place Their Bets
In other news, COO Margaret A. Horn sold 60,400 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $160.17, for a total value of $9,674,268.00. Following the transaction, the chief operating officer owned 158,222 shares in the company, valued at approximately $25,342,417.74. This represents a 27.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the sale, the insider owned 291,876 shares in the company, valued at approximately $45,567,681.12. The trade was a 1.41% 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 three months, insiders sold 212,497 shares of company stock valued at $38,206,486. 7.60% of the stock is owned by company insiders.
Key Stories Impacting Revolution Medicines
- Positive Sentiment: FDA approval creates a major commercial opportunity. Rasonque became the first broad RAS-targeted therapy approved for metastatic pancreatic cancer and Revolution Medicines’ first marketed product. The approval arrived roughly five weeks after filing through the FDA’s national priority voucher program. In the pivotal RASolute 302 trial, the treatment reportedly nearly doubled survival outcomes, supporting expectations for rapid adoption. RVMD Secures FDA Win
- Positive Sentiment: Analysts raised their valuations. Guggenheim increased its price target to $275 from $240 with a Buy rating, while HC Wainwright maintained a Buy rating and a $280 target. Analysts cited potential peak sales of approximately $11.5 billion, and RBC viewed the planned launch as comparatively rapid. Revolution Medicines FDA Approval and Peak Sales
- Neutral Sentiment: Much of the good news may already be reflected in the stock. RVMD recently reached an all-time high above $224 and its market capitalization approached $47 billion. Commentary suggests investors had already priced in a successful approval, limiting additional upside from the announcement. Revolution Medicines Valuation Analysis
- Negative Sentiment: Profit-taking and risk concerns are weighing on shares. Despite the “transformative” approval, the stock is facing a weekly decline as investors lock in gains after a more-than-fivefold rally. Revolution Medicines remains unprofitable, with analysts forecasting negative EPS for 2027, although losses are expected to narrow to $6.86 per share for the full year. Revolution Medicines Shares Despite FDA Approval
Analyst Upgrades and Downgrades
RVMD has been the subject of several research analyst reports. Mizuho raised their target price on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Evercore restated an “outperform” rating and issued a $320.00 price objective on shares of Revolution Medicines in a report on Thursday. Sanford C. Bernstein raised their price objective on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a research report on Friday, August 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $248.00 price target on shares of Revolution Medicines in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.89.
View Our Latest Stock Report on RVMD
Revolution Medicines Trading Down 6.0%
NASDAQ RVMD opened at $207.88 on Friday. Revolution Medicines, Inc. has a 12 month low of $37.56 and a 12 month high of $224.31. The stock has a market cap of $44.56 billion, a P/E ratio of -23.57 and a beta of 1.39. The stock’s fifty day moving average price is $193.33 and its 200-day moving average price is $148.59. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the previous year, the firm earned ($1.31) earnings per share. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -8.85 EPS for the current fiscal year.
Revolution Medicines Company Profile
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.
Featured Stories
- Five stocks we like better than Revolution Medicines
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
Receive News & Ratings for Revolution Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Revolution Medicines and related companies with MarketBeat.com's FREE daily email newsletter.
