Ameriprise Financial Inc. Has $52.71 Million Holdings in Revolution Medicines, Inc. $RVMD

Key Points

• Ameriprise Financial Inc. has reduced its holdings in Revolution Medicines, Inc. by 8.4%, now owning approximately 1.49 million shares valued at around $52.71 million.
• Revolution Medicines' stock has experienced an increase of 2.0% and currently has a market capitalization of $7.11 billion, with a price-to-earnings ratio of -8.45.
• Thirteen analysts have rated Revolution Medicines with a Buy rating, resulting in an average target price of $69.92 for the stock.

Ameriprise Financial Inc. cut its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,490,658 shares of the company's stock after selling 136,190 shares during the quarter. Ameriprise Financial Inc. owned about 0.80% of Revolution Medicines worth $52,710,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Kapitalo Investimentos Ltda acquired a new stake in Revolution Medicines in the fourth quarter worth $104,000. Goodman Advisory Group LLC acquired a new stake in Revolution Medicines in the first quarter worth $127,000. GF Fund Management CO. LTD. grew its holdings in Revolution Medicines by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock worth $152,000 after purchasing an additional 775 shares during the period. PNC Financial Services Group Inc. grew its holdings in Revolution Medicines by 349.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company's stock worth $160,000 after purchasing an additional 3,518 shares during the period. Finally, BIT Capital GmbH acquired a new stake in Revolution Medicines in the first quarter worth $178,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Up 2.0%

Revolution Medicines stock opened at $38.04 on Thursday. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of -8.45 and a beta of 1.16. The firm's fifty day moving average price is $37.32 and its two-hundred day moving average price is $38.26. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). During the same quarter in the previous year, the company earned ($0.81) EPS. Revolution Medicines's revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on RVMD. Wells Fargo & Company began coverage on shares of Revolution Medicines in a report on Friday, August 15th. They issued an "overweight" rating and a $67.00 price target for the company. Guggenheim restated a "buy" rating and issued a $80.00 price target on shares of Revolution Medicines in a report on Wednesday, June 25th. Wedbush restated an "outperform" rating and issued a $73.00 price target (up from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Lifesci Capital began coverage on shares of Revolution Medicines in a report on Monday, August 18th. They issued an "outperform" rating and a $80.00 price target for the company. Finally, The Goldman Sachs Group began coverage on shares of Revolution Medicines in a report on Tuesday, July 15th. They issued a "buy" rating and a $65.00 price target for the company. Thirteen analysts have rated the stock with a Buy rating, According to MarketBeat.com, Revolution Medicines presently has an average rating of "Buy" and an average 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.

Want to see what other hedge funds are holding RVMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.