Nan Fung Group Holdings Ltd Acquires New Position in Revolution Medicines, Inc. $RVMD

Nan Fung Group Holdings Ltd acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 19,253 shares of the company’s stock, valued at approximately $3,605,702,000. Revolution Medicines accounts for approximately 2.7% of Nan Fung Group Holdings Ltd’s investment portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RVMD. Contravisory Investment Management Inc. acquired a new stake in shares of Revolution Medicines in the 2nd quarter valued at approximately $32,000. Johnson Financial Group Inc. acquired a new position in Revolution Medicines during the second quarter worth $37,000. Northwestern Mutual Wealth Management Co. acquired a new position in Revolution Medicines during the second quarter worth $41,000. Silvant Capital Management LLC acquired a new position in Revolution Medicines during the second quarter worth $41,000. Finally, Rakuten Securities Inc. purchased a new position in Revolution Medicines in the second quarter worth $66,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Up 1.0%

RVMD opened at $211.58 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The company has a market cap of $45.35 billion, a price-to-earnings ratio of -23.99 and a beta of 1.39. Revolution Medicines, Inc. has a one year low of $35.62 and a one year high of $220.34. The business’s fifty day moving average is $189.02 and its two-hundred day moving average is $145.65.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter last year, the firm posted ($1.31) earnings per share. Analysts anticipate that Revolution Medicines, Inc. will post -8.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Sushil Patel sold 5,580 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the sale, the director directly owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. This represents a 20.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jack Anders sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This trade represents a 13.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RVMD has been the subject of a number of recent analyst reports. Oppenheimer reissued an “outperform” rating and issued a $230.00 target price on shares of Revolution Medicines in a report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and set a $230.00 price target on shares of Revolution Medicines in a research note on Thursday, August 6th. Sanford C. Bernstein increased their price target on shares of Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a report on Friday. Guggenheim raised their price objective on shares of Revolution Medicines from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Wolfe Research restated an “outperform” rating and set a $220.00 target price on shares of Revolution Medicines in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $167.89.

Revolution Medicines 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.