BVF Inc. IL Purchases 801,205 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• BVF Inc. increased its stake in Revolution Medicines by 19.2%, acquiring an additional 801,205 shares, which now represents 7.2% of BVF's portfolio and is its 3rd largest holding.
• Revolution Medicines' stock saw a 4.1% increase, with shares opening at $39.53 and a market cap of $7.39 billion, but reported a quarterly loss of ($1.31) EPS.
• Multiple analysts have issued buy ratings for the stock, with a consensus target price of $69.92, indicating a positive outlook for Revolution Medicines' growth potential.

BVF Inc. IL raised its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,982,384 shares of the company's stock after buying an additional 801,205 shares during the period. Revolution Medicines comprises about 7.2% of BVF Inc. IL's portfolio, making the stock its 3rd largest holding. BVF Inc. IL owned approximately 2.67% of Revolution Medicines worth $176,177,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Revolution Medicines by 11.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock worth $232,000 after purchasing an additional 615 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Revolution Medicines by 516.0% during the 1st quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock worth $640,000 after purchasing an additional 15,164 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Revolution Medicines by 349.7% during the 1st 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 last quarter. Lunate Capital Ltd acquired a new position in shares of Revolution Medicines during the 1st quarter worth approximately $77,658,000. Finally, MPM Bioimpact LLC boosted its holdings in shares of Revolution Medicines by 7.7% during the 4th quarter. MPM Bioimpact LLC now owns 313,817 shares of the company's stock worth $13,726,000 after purchasing an additional 22,426 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Up 4.1%

Shares of NASDAQ RVMD opened at $39.53 on Wednesday. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of -8.78 and a beta of 1.12. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The business's 50 day moving average is $37.20 and its two-hundred day moving average is $38.15.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted 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). The business's revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the business posted ($0.81) EPS. Research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RVMD shares. The Goldman Sachs Group started coverage on Revolution Medicines in a report on Tuesday, July 15th. They issued a "buy" rating and a $65.00 price objective on the stock. Needham & Company LLC decreased their price objective on Revolution Medicines from $57.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Piper Sandler started coverage on Revolution Medicines in a report on Monday, August 18th. They issued an "overweight" rating and a $75.00 price objective on the stock. Wedbush reiterated an "outperform" rating and issued a $73.00 price objective (up from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Finally, Wells Fargo & Company started coverage on Revolution Medicines in a report on Friday, August 15th. They issued an "overweight" rating and a $67.00 price objective on the stock. Thirteen research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Revolution Medicines presently has an average rating of "Buy" and a consensus target price of $69.92.

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.

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