Truist reiterates Buy on Revolution Medicines after FDA data pullback

Truist says today’s selloff in Revolution Medicines reflects newly disclosed mutation-level efficacy details in FDA review materials, with Rasonque activity reported as stronger in KRAS G12V than G12D. The firm says the divergence warrants attention but offers more nuance than a fundamental challenge, notes G12D efficacy remains clinically meaningful, and that exploratory analyses were not powered for cross-mutation comparisons. Truist reiterates a Buy rating and a $240 price target.