Mirae Asset Global Investments Co. Ltd. Buys New Stake in Revolution Medicines, Inc. $RVMD

Mirae Asset Global Investments Co. Ltd. purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,709 shares of the company’s stock, valued at approximately $2,609,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Equitable Holdings Inc. bought a new position in shares of Revolution Medicines in the 2nd quarter worth approximately $963,000. State of Wyoming bought a new stake in shares of Revolution Medicines during the second quarter valued at approximately $1,769,000. Handelsbanken Fonder AB boosted its position in shares of Revolution Medicines by 243.6% during the second quarter. Handelsbanken Fonder AB now owns 212,275 shares of the company’s stock valued at $39,755,000 after purchasing an additional 150,500 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Revolution Medicines during the second quarter valued at approximately $112,566,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Revolution Medicines in the second quarter worth $37,547,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insiders Place Their Bets

In other Revolution Medicines news, insider Mark A. Goldsmith sold 80,000 shares of Revolution Medicines stock in a transaction on Friday, August 21st. The stock was sold at an average price of $209.20, for a total value of $16,736,000.00. Following the completion of the sale, the insider owned 267,330 shares of the company’s stock, valued at approximately $55,925,436. This trade represents a 23.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Kelsey sold 92,531 shares of Revolution Medicines stock in a transaction on 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 completion of the sale, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $59,064,027.36. The trade was a 24.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 290,991 shares of company stock worth $59,422,765 in the last three months. Corporate insiders own 7.60% of the company’s stock.

Key Stories Impacting Revolution Medicines

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.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Revolution Medicines from a “sell” rating to a “hold” rating in a report on Saturday. HC Wainwright boosted their target price on shares of Revolution Medicines from $280.00 to $350.00 and gave the company a “buy” rating in a report on Friday. Wedbush upped their target price on shares of Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $275.00 target price on shares of Revolution Medicines in a research report on Thursday, October 15th. Finally, TD Cowen increased their price target on shares of Revolution Medicines from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $263.15.

Revolution Medicines Trading Up 8.2%

Shares of NASDAQ RVMD opened at $192.28 on Friday. The firm’s 50 day moving average price is $196.88 and its 200-day moving average price is $157.56. Revolution Medicines, Inc. has a 52-week low of $58.91 and a 52-week high of $224.31. The company has a debt-to-equity ratio of 0.44, a quick ratio of 11.38 and a current ratio of 8.36. The company has a market cap of $41.21 billion, a PE ratio of -21.11 and a beta of 1.44.

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

Revolution Medicines 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.