Nomura Asset Management Co. Ltd. Has $94,000 Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Nomura Asset Management Co. Ltd. reduced its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 22.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,064 shares of the company’s stock after selling 591 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Revolution Medicines were worth $94,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC grew its stake in Revolution Medicines by 17.5% in the second quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock valued at $416,000 after purchasing an additional 1,601 shares in the last quarter. Raymond James & Associates grew its stake in shares of Revolution Medicines by 196.4% in the second quarter. Raymond James & Associates now owns 74,370 shares of the company’s stock valued at $2,886,000 after buying an additional 49,275 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after buying an additional 320 shares during the last quarter. Bank of New York Mellon Corp raised its position in Revolution Medicines by 21.9% during the second quarter. Bank of New York Mellon Corp now owns 645,253 shares of the company’s stock worth $25,042,000 after acquiring an additional 115,844 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in Revolution Medicines in the second quarter valued at $784,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RVMD shares. Oppenheimer boosted their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Piper Sandler upped their price objective on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. HC Wainwright lifted their target price on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $70.00 price target on shares of Revolution Medicines in a report on Monday, December 2nd. Finally, Guggenheim upped their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $63.67.

Insider Transactions at Revolution Medicines

In other news, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the sale, the director now owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This represents a 28.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thilo Schroeder purchased 1,304,347 shares of Revolution Medicines stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the transaction, the director now directly owns 2,096,612 shares in the company, valued at $96,444,152. This represents a 164.64 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is owned by corporate insiders.

Revolution Medicines Stock Up 0.2 %

NASDAQ RVMD opened at $45.01 on Monday. The firm has a 50-day moving average price of $52.38 and a two-hundred day moving average price of $45.96. Revolution Medicines, Inc. has a 12-month low of $25.58 and a 12-month high of $62.40. The company has a market capitalization of $7.57 billion, a P/E ratio of -12.54 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter last year, the company posted ($0.99) earnings per share. Equities analysts expect that Revolution Medicines, Inc. will post -3.5 EPS for the current year.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.