Deutsche Bank AG Buys New Stake in Revolution Medicines, Inc. $RVMD

Deutsche Bank AG purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 888,019 shares of the company’s stock, valued at approximately $166,308,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nextech Invest Ltd. lifted its holdings in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares during the period. Millennium Management LLC grew its holdings in Revolution Medicines by 681.8% during the first quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after acquiring an additional 136,353 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Revolution Medicines by 14.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after acquiring an additional 37,345 shares in the last quarter. Invesco Ltd. raised its position in Revolution Medicines by 19.3% during the second quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after acquiring an additional 36,760 shares in the last quarter. Finally, Jump Financial LLC raised its position in Revolution Medicines by 87.9% during the second quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after acquiring an additional 7,137 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Trading Down 0.6%

Shares of NASDAQ:RVMD opened at $214.66 on Thursday. The business’s 50 day moving average price is $185.62 and its 200-day moving average price is $143.24. Revolution Medicines, Inc. has a 1 year low of $35.42 and a 1 year high of $220.34. The firm has a market capitalization of $46.01 billion, a price-to-earnings ratio of -24.34 and a beta of 1.39. 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 (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the prior year, the firm earned ($1.31) EPS. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -8.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 29,600 shares of the company’s stock in a transaction dated 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 in the company, valued at $24,762,077.64. This represents a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock in a transaction that occurred 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 of the company’s stock, valued at $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. Over the last quarter, insiders have sold 132,497 shares of company stock valued at $21,470,486. 7.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on RVMD. Needham & Company LLC upped their price objective on Revolution Medicines from $236.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wolfe Research reaffirmed an “outperform” rating and set a $220.00 target price on shares of Revolution Medicines in a report on Monday, August 10th. Wedbush boosted their target price on shares of Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Guggenheim increased their price target on shares of Revolution Medicines from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Oppenheimer restated an “outperform” rating and set a $230.00 price target on shares of Revolution Medicines in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $166.33.

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.