59,214 Shares in Revolution Medicines, Inc. $RVMD Purchased by Trexquant Investment LP

Key Points

• Trexquant Investment LP has acquired 59,214 shares of Revolution Medicines, Inc. (NASDAQ:RVMD), valued at approximately $2.1 million, in the first quarter of the year.
• Thirteen analyst firms have rated RVMD with a consensus rating of “Buy” and an average price target of $69.92, indicating positive expectations for its stock performance.
• Revolution Medicines reported a loss of $1.31 per share for the last quarter, missing analysts' expectations, but the company's revenue increased compared to the previous year.

Trexquant Investment LP bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 59,214 shares of the company's stock, valued at approximately $2,094,000.

Several other institutional investors also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its position in shares of Revolution Medicines by 54.5% during the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock valued at $414,777,000 after buying an additional 3,346,755 shares in the last quarter. Lunate Capital Ltd acquired a new position in Revolution Medicines in the 1st quarter valued at $77,658,000. Farallon Capital Management LLC increased its stake in shares of Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock worth $579,498,000 after acquiring an additional 1,931,000 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Revolution Medicines in the 1st quarter worth $59,173,000. Finally, Nextech Invest Ltd. increased its stake in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC cut their price objective on Revolution Medicines from $57.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company started coverage on Revolution Medicines in a research report on Friday, August 15th. They set an "overweight" rating and a $67.00 target price on the stock. Lifesci Capital started coverage on Revolution Medicines in a research report on Monday, August 18th. They set an "outperform" rating and a $80.00 price target on the stock. The Goldman Sachs Group initiated coverage on Revolution Medicines in a research report on Tuesday, July 15th. They set a "buy" rating and a $65.00 price target on the stock. Finally, Truist Financial initiated coverage on Revolution Medicines in a report on Friday. They issued a "buy" rating and a $99.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Revolution Medicines currently has an average rating of "Buy" and an average price target of $72.00.

Insider Buying and Selling

In other news, CFO Jack Anders sold 5,238 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total value of $210,410.46. Following the completion of the sale, the chief financial officer owned 113,314 shares in the company, valued at approximately $4,551,823.38. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.20% of the stock is owned by corporate insiders.

Revolution Medicines Trading Up 4.0%

Revolution Medicines stock traded up $1.55 during trading on Friday, hitting $40.50. The company's stock had a trading volume of 1,705,576 shares, compared to its average volume of 1,952,136. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of -9.00 and a beta of 1.12. The stock's fifty day moving average is $37.33 and its 200 day moving average is $38.11. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.37). Revolution Medicines's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.81) earnings per share. As a group, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 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.