Rakuten Investment Management Inc. Purchases New Holdings in Revolution Medicines, Inc. $RVMD

Rakuten Investment Management Inc. purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,058 shares of the company’s stock, valued at approximately $2,261,000.

Other institutional investors have also bought and sold shares of the company. Alphabet Inc. purchased a new position in Revolution Medicines in the second quarter valued at approximately $551,843,000. Assenagon Asset Management S.A. increased its position in Revolution Medicines by 987.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company’s stock worth $447,710,000 after buying an additional 1,980,699 shares during the last quarter. Bank of America Corp DE purchased a new stake in Revolution Medicines in the second quarter worth $184,267,000. Deutsche Bank AG bought a new stake in shares of Revolution Medicines in the second quarter valued at $166,308,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Revolution Medicines in the second quarter valued at $112,566,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Up 8.2%

RVMD opened at $192.28 on Friday. Revolution Medicines, Inc. has a 12 month low of $58.91 and a 12 month high of $224.31. The company has a market cap of $41.21 billion, a PE ratio of -21.11 and a beta of 1.44. The company has a current ratio of 8.36, a quick ratio of 11.38 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $196.88 and a 200 day moving average of $157.56.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, November 4th. The company reported ($1.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.35) by $0.45. The business had revenue of $197.56 million for the quarter, compared to the consensus estimate of $25.58 million. During the same period in the previous year, the firm earned ($1.61) EPS. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -7.88 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RVMD shares. Oppenheimer upped their price target on Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Sanford C. Bernstein lifted their price objective on Revolution Medicines from $151.00 to $179.00 and gave the stock a “market perform” rating in a report on Friday, August 21st. Wall Street Zen upgraded Revolution Medicines from a “sell” rating to a “hold” rating in a research note on Saturday. Guggenheim upped their price objective on shares of Revolution Medicines from $275.00 to $298.00 and gave the company a “buy” rating in a report on Thursday. Finally, William Blair began coverage on shares of Revolution Medicines in a report on Friday, October 16th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $263.15.

Insider Transactions at Revolution Medicines

In related news, Director Elizabeth M. Anderson sold 10,143 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.04, for a total transaction of $1,958,004.72. Following the sale, the director directly owned 4,333 shares in the company, valued at approximately $836,442.32. The trade was a 70.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Kelsey sold 92,531 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $202.36, for a total value of $18,724,573.16. Following the sale, the insider directly owned 291,876 shares in the company, valued at $59,064,027.36. This trade represents a 24.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 290,991 shares of company stock valued at $59,422,765. 7.60% of the stock is currently owned by company insiders.

Key Revolution Medicines News

Here are the key news stories impacting Revolution Medicines this week:

• Positive Sentiment: Strong early Rasonque sales: Revolution Medicines reported $197.6 million in third-quarter revenue, beating estimates, with Rasonque generating that amount in just five weeks after its U.S. launch. The company said more than 5,000 patients had been treated. The quarterly loss per share also came in narrower than analysts expected. Zacks article on Q3 results and Rasonque uptake
• Positive Sentiment: Analyst targets moved higher: HC Wainwright raised its target to $350 and maintained a Buy rating. RBC lifted its target to $321 with an Outperform rating; Guggenheim, Truist and TD Cowen also raised targets and retained positive ratings. These revisions signal optimism about the drug’s commercial potential and pipeline. HC Wainwright recommendations RBC target increase
• Neutral Sentiment: Long-term opportunity, but expectations are high: Rasonque’s clinical results and potential expansion into other solid tumors support the pipeline outlook. However, commentary noted that RVMD’s roughly $40 billion valuation already reflects substantial expectations, making sustained launch growth and upcoming clinical results important. Seeking Alpha analysis of Q3 results
• Negative Sentiment: Some long-range forecasts were cut: Brookline Capital Markets lowered its FY2029 EPS estimate to $8.49 from $8.94 and its FY2030 estimate to $17.41 from $18.15, though it kept a Buy rating and a $318 target.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a biotechnology company focused on developing targeted therapies for patients with RAS-driven cancers. Founded in 2014 and headquartered in Redwood City, California, the company’s research centers on RAS proteins, which can contribute to the growth of many cancers.

The company’s pipeline includes drug candidates designed to inhibit mutant RAS proteins, including daraxonrasib (RMC-6236), which targets multiple RAS variants, and candidates directed at specific KRAS mutations.