American Century Companies Inc. Raises Stake in Revolution Medicines, Inc. $RVMD

Key Points

• American Century Companies Inc. increased its stake in Revolution Medicines, Inc. by 15.6%, owning a total of 741,860 shares worth approximately $26.2 million after acquiring an additional 100,214 shares.
• Analysts have a positive outlook on Revolution Medicines, with most rating it as a Buy and setting a consensus price target of $69.92.
• Revolution Medicines reported a earnings loss of ($1.31) per share, missing consensus estimates, despite a slight revenue increase compared to the same quarter last year.

American Century Companies Inc. raised its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 15.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 741,860 shares of the company's stock after acquiring an additional 100,214 shares during the period. American Century Companies Inc. owned approximately 0.40% of Revolution Medicines worth $26,232,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RVMD. Envestnet Asset Management Inc. lifted its stake in shares of Revolution Medicines by 21.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 11,425 shares of the company's stock worth $500,000 after acquiring an additional 2,041 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Revolution Medicines by 11.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock worth $186,000 after acquiring an additional 434 shares during the period. Cerity Partners LLC acquired a new stake in shares of Revolution Medicines in the 4th quarter worth $250,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Revolution Medicines by 5.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock worth $498,000 after acquiring an additional 545 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of Revolution Medicines by 16.1% in the 4th quarter. MetLife Investment Management LLC now owns 100,329 shares of the company's stock worth $4,388,000 after acquiring an additional 13,918 shares during the period. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Price Performance

NASDAQ:RVMD traded up $1.03 during mid-day trading on Thursday, hitting $39.07. 718,384 shares of the company's stock traded hands, compared to its average volume of 1,860,677. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79. The firm's 50 day simple moving average is $37.32 and its 200 day simple moving average is $38.26. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $62.40. The company has a market cap of $7.30 billion, a PE ratio of -8.68 and a beta of 1.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same quarter in the previous year, the firm posted ($0.81) EPS. Revolution Medicines's revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RVMD shares. Needham & Company LLC reduced their target price on shares of Revolution Medicines from $57.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Lifesci Capital started coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They issued an "outperform" rating and a $80.00 price objective for the company. Wells Fargo & Company started coverage on shares of Revolution Medicines in a research note on Friday, August 15th. They issued an "overweight" rating and a $67.00 price objective for the company. Piper Sandler started coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They issued an "overweight" rating and a $75.00 price objective for the company. Finally, Guggenheim reiterated a "buy" rating and issued a $80.00 price objective on shares of Revolution Medicines in a research note on Wednesday, June 25th. Thirteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Revolution Medicines currently has a consensus rating of "Buy" and a consensus target price of $69.92.

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.