Revolution Medicines, Inc. $RVMD Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 996,974 shares of the company’s stock after selling 17,920 shares during the period. Pictet Asset Management Holding SA’s holdings in Revolution Medicines were worth $204,528,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Bluestem Financial Advisors LLC lifted its stake in Revolution Medicines by 4.8% during the third quarter. Bluestem Financial Advisors LLC now owns 1,256 shares of the company’s stock worth $258,000 after purchasing an additional 58 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Revolution Medicines by 8.7% in the 3rd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock valued at $166,000 after purchasing an additional 65 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Revolution Medicines by 37.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 370 shares of the company’s stock valued at $76,000 after purchasing an additional 100 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Revolution Medicines by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after purchasing an additional 120 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Revolution Medicines by 147.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company’s stock valued at $41,000 after purchasing an additional 130 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Trading Up 8.2%

Shares of RVMD stock opened at $192.28 on Friday. The firm has a market capitalization of $41.21 billion, a P/E ratio of -21.11 and a beta of 1.44. Revolution Medicines, Inc. has a twelve month low of $58.91 and a twelve month high of $224.31. The company has a quick ratio of 11.38, a current ratio of 8.36 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $196.88 and its 200 day simple moving average is $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, topping analysts’ consensus estimates of ($2.35) by $0.45. The firm had revenue of $197.56 million during the quarter, compared to analyst estimates of $25.58 million. During the same period in the previous year, the company earned ($1.61) EPS. As a group, sell-side analysts predict that Revolution Medicines, Inc. will post -7.88 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In other news, COO Margaret Horn sold 4,967 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $989,625.08. Following the sale, the chief operating officer directly owned 149,680 shares in the company, valued at approximately $29,822,243.20. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark Goldsmith sold 13,988 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total value of $2,786,969.12. Following the completion of the transaction, the insider directly owned 253,342 shares of the company’s stock, valued at $50,475,860.08. This represents a 5.23% decrease in their position. 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. In the last 90 days, insiders sold 290,991 shares of company stock valued at $59,422,765. Corporate insiders own 7.60% of the company’s stock.

Key Headlines 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RVMD shares. Raymond James Financial reissued a “strong-buy” rating and set a $248.00 price target on shares of Revolution Medicines in a report on Thursday, August 27th. Wedbush raised their price objective on Revolution Medicines from $201.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Royal Bank Of Canada lifted their target price on Revolution Medicines from $260.00 to $321.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus upped their price objective on shares of Revolution Medicines from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Finally, TD Cowen upped their price objective on shares of Revolution Medicines from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday. One investment 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. Based on data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $263.15.

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.