Nan Fung Group Holdings Ltd Takes Position in Revolution Medicines, Inc. $RVMD

Nan Fung Group Holdings Ltd acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,253 shares of the company’s stock, valued at approximately $3,605,702,000. Revolution Medicines makes up approximately 2.7% of Nan Fung Group Holdings Ltd’s holdings, making the stock its 10th biggest position.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after purchasing an additional 1,056,792 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after purchasing an additional 947,448 shares in the last quarter. Nextech Invest Ltd. grew its stake in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Paradigm Biocapital Advisors LP increased its holdings in Revolution Medicines by 6.8% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock valued at $529,227,000 after buying an additional 421,112 shares during the last quarter. Finally, Bellevue Group AG raised its stake in Revolution Medicines by 21.7% in the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after buying an additional 994,538 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 10,020 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the completion of the sale, the insider owned 267,330 shares in the company, valued at $41,735,559.60. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the sale, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This represents a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RVMD. Evercore reissued an “outperform” rating and set a $230.00 target price on shares of Revolution Medicines in a research report on Thursday, August 6th. Piper Sandler upped their price target on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wolfe Research reissued an “outperform” rating and set a $220.00 price objective on shares of Revolution Medicines in a report on Monday, August 10th. Oppenheimer restated an “outperform” rating and set a $230.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada upped their target price on shares of Revolution Medicines from $182.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.89.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $211.58 on Tuesday. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines, Inc. has a 52-week low of $35.62 and a 52-week high of $220.34. The business’s 50-day moving average price is $189.02 and its 200 day moving average price is $145.65. The firm has a market cap of $45.35 billion, a P/E ratio of -23.99 and a beta of 1.39.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the previous year, the business posted ($1.31) earnings per share. On average, equities research analysts expect that Revolution Medicines, Inc. will post -8.82 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.