Comerica Bank Boosts Stock Holdings in Revolution Medicines, Inc. $RVMD

Key Points

• Comerica Bank significantly increased its stake in Revolution Medicines by 42,758.2%, now owning approximately 193,719 shares valued at about $6.85 million.
• Recent analyst ratings indicate a general sentiment of buy for Revolution Medicines, with a consensus target price of $69.92.
• The company's stock is trading at $38.04 with an evolving market cap of $7.11 billion, although it reported a loss of ($1.31) EPS in its most recent earnings release.

Comerica Bank boosted its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 42,758.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,719 shares of the company's stock after purchasing an additional 193,267 shares during the period. Comerica Bank owned about 0.10% of Revolution Medicines worth $6,850,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Revolution Medicines by 11.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock valued at $232,000 after purchasing an additional 615 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Revolution Medicines by 516.0% during the first quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock worth $640,000 after acquiring an additional 15,164 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Revolution Medicines by 349.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company's stock worth $160,000 after acquiring an additional 3,518 shares in the last quarter. Baker BROS. Advisors LP lifted its position in shares of Revolution Medicines by 4.9% during the fourth quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock worth $347,163,000 after acquiring an additional 367,882 shares in the last quarter. Finally, Lunate Capital Ltd purchased a new stake in shares of Revolution Medicines during the first quarter worth $77,658,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RVMD shares. 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. Needham & Company LLC dropped their target price on Revolution Medicines from $57.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Piper Sandler started coverage on Revolution Medicines in a research report on Monday, August 18th. They set an "overweight" rating and a $75.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $72.00 target price (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Finally, The Goldman Sachs Group started coverage on Revolution Medicines in a research report on Tuesday, July 15th. They set a "buy" rating and a $65.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, Revolution Medicines presently has a consensus rating of "Buy" and an average target price of $69.92.

Revolution Medicines Stock Up 2.0%

RVMD opened at $38.04 on Thursday. The stock has a market cap of $7.11 billion, a PE ratio of -8.45 and a beta of 1.16. 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 fifty day simple moving average is $37.32 and its 200 day simple moving average is $38.26.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). The business's quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company earned ($0.81) earnings per share. As a group, research analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Revolution Medicines 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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