Janus Henderson Group PLC Has $278.28 Million Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Janus Henderson Group PLC boosted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 32.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,137,244 shares of the company’s stock after buying an additional 1,497,026 shares during the quarter. Janus Henderson Group PLC owned approximately 3.65% of Revolution Medicines worth $278,280,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RVMD. SG Americas Securities LLC boosted its stake in Revolution Medicines by 17.5% in the 2nd quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock valued at $416,000 after buying an additional 1,601 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in Revolution Medicines by 10.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock valued at $436,000 after buying an additional 1,036 shares in the last quarter. Raymond James & Associates boosted its stake in Revolution Medicines by 196.4% in the 2nd 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 boosted its stake in Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 320 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Revolution Medicines by 21.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 645,253 shares of the company’s stock valued at $25,042,000 after purchasing an additional 115,844 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.30, for a total value of $503,000.00. Following the transaction, the chief financial officer now owns 98,932 shares of the company’s stock, valued at approximately $4,976,279.60. This represents a 9.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.36, for a total value of $1,510,800.00. Following the completion of the sale, the insider now owns 300,170 shares of the company’s stock, valued at $15,116,561.20. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Guggenheim boosted their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday. Wedbush reissued an “outperform” rating and issued a $70.00 price objective on shares of Revolution Medicines in a research note on Monday. Barclays boosted their price objective on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Piper Sandler boosted their price objective on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $63.00.

Revolution Medicines Stock Down 6.9 %

Shares of RVMD opened at $48.23 on Wednesday. Revolution Medicines, Inc. has a 12-month low of $23.38 and a 12-month high of $62.40. The stock’s fifty day simple moving average is $52.15 and its 200-day simple moving average is $45.50. The firm has a market capitalization of $8.11 billion, a PE ratio of -13.43 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the previous year, the business earned ($0.99) earnings per share. Analysts anticipate that Revolution Medicines, Inc. will post -3.51 EPS for the current year.

Revolution Medicines Company Profile

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.