Janus Henderson Group PLC Acquires 947,448 Shares of Revolution Medicines, Inc. $RVMD

Janus Henderson Group PLC grew its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,303,502 shares of the company’s stock after acquiring an additional 947,448 shares during the period. Janus Henderson Group PLC owned 6.36% of Revolution Medicines worth $980,036,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after acquiring an additional 125 shares in the last quarter. Deutsche Bank AG grew its position in Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after acquiring an additional 130 shares in the last quarter. Signaturefd LLC grew its position in Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after acquiring an additional 163 shares in the last quarter. Allworth Financial LP grew its position in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after acquiring an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Revolution Medicines by 44.7% in the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $60,000 after acquiring an additional 232 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Guggenheim boosted their target price on shares of Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. HC Wainwright boosted their target price on shares of Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Royal Bank Of Canada upped their price objective on shares of Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Truist Financial initiated coverage on shares of Revolution Medicines in a report on Monday, May 18th. They set a “buy” rating and a $179.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Revolution Medicines has an average rating of “Buy” and a consensus target price of $123.72.

Insider Buying and Selling at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 120,000 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the transaction, the insider directly owned 276,698 shares in the company, valued at $41,529,602.82. This represents a 30.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 60,400 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the transaction, the chief operating officer owned 158,222 shares of the company’s stock, valued at approximately $25,342,417.74. The trade was a 27.63% decrease in their ownership of the stock. 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 210,000 shares of company stock valued at $32,424,620. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Up 0.8%

Revolution Medicines stock opened at $157.77 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 business’s 50-day simple moving average is $144.38 and its 200-day simple moving average is $112.39. The firm has a market capitalization of $33.54 billion, a PE ratio of -22.32 and a beta of 1.40. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period last year, the company posted ($1.13) earnings per share. Equities research analysts forecast that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

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.