Janus Henderson Group PLC Sells 2,537,006 Shares of Revolution Medicines, Inc. $RVMD

Janus Henderson Group PLC decreased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 20.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,766,496 shares of the company’s stock after selling 2,537,006 shares during the quarter. Janus Henderson Group PLC’s holdings in Revolution Medicines were worth $949,537,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after buying an additional 1,056,792 shares during the period. Nextech Invest Ltd. raised its position 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 acquiring an additional 1,304,347 shares during the period. Paradigm Biocapital Advisors LP boosted its stake in Revolution Medicines by 6.8% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock worth $529,227,000 after acquiring an additional 421,112 shares during the last quarter. Bellevue Group AG boosted its stake in Revolution Medicines by 21.7% during the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after acquiring an additional 994,538 shares during the last quarter. Finally, Deerfield Management Company L.P. grew its holdings in Revolution Medicines by 7.9% during the third quarter. Deerfield Management Company L.P. now owns 3,650,342 shares of the company’s stock valued at $170,471,000 after purchasing an additional 266,270 shares during the period. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $180.92 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a market cap of $38.46 billion, a price-to-earnings ratio of -25.59 and a beta of 1.37. The business has a 50 day simple moving average of $171.08 and a 200 day simple moving average of $133.96. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $194.56.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the prior year, the business posted ($1.13) EPS. Analysts anticipate that Revolution Medicines, Inc. will post -7.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on RVMD. HC Wainwright reaffirmed a “buy” rating and issued a $195.00 target price on shares of Revolution Medicines in a research note on Monday, July 6th. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Needham & Company LLC boosted their price target on shares of Revolution Medicines from $235.00 to $236.00 and gave the company a “buy” rating in a report on Monday, July 20th. Mizuho upped their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Finally, Piper Sandler raised their price objective on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 10,020 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the sale, the insider directly owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the transaction, the director directly owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 132,497 shares of company stock worth $21,470,486 in the last ninety days. 7.60% of the stock is owned by insiders.

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.