Deutsche Bank AG Reduces Stock Holdings in Revolution Medicines, Inc. $RVMD

Key Points

• Deutsche Bank AG reduced its stake in Revolution Medicines by 13.6%, selling 24,037 shares in the first quarter, resulting in ownership of 153,346 shares valued at $5,422,000.
• Several institutional investors significantly increased their stakes in Revolution Medicines, with Westfield Capital Management raising its position by 18,248.8% to own over a million shares valued at $37,625,000.
• Analysts have varied price targets for Revolution Medicines, with a consensus target price of $68.67, reflecting an overall "buy" rating from twelve research analysts.

Deutsche Bank AG decreased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 13.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 153,346 shares of the company's stock after selling 24,037 shares during the quarter. Deutsche Bank AG owned about 0.08% of Revolution Medicines worth $5,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RVMD. Boxer Capital Management LLC bought a new position in Revolution Medicines in the fourth quarter worth $187,184,000. Janus Henderson Group PLC raised its holdings in Revolution Medicines by 54.5% in the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock worth $414,777,000 after purchasing an additional 3,346,755 shares in the last quarter. Lunate Capital Ltd bought a new position in Revolution Medicines in the first quarter worth $77,658,000. Farallon Capital Management LLC raised its holdings in Revolution Medicines by 17.1% in the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock worth $579,498,000 after purchasing an additional 1,931,000 shares in the last quarter. Finally, Nextech Invest Ltd. raised its holdings in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Revolution Medicines in a report on Tuesday, July 15th. They issued a "buy" rating and a $65.00 price objective for the company. Guggenheim reiterated a "buy" rating and issued a $80.00 price objective on shares of Revolution Medicines in a report on Wednesday, June 25th. Piper Sandler initiated coverage on Revolution Medicines in a report on Monday. They issued an "overweight" rating for the company. Oppenheimer lifted their price target on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Lifesci Capital initiated coverage on Revolution Medicines in a research report on Monday. They issued an "outperform" rating and a $80.00 price target for the company. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, Revolution Medicines has an average rating of "Buy" and a consensus target price of $69.54.

Revolution Medicines Stock Up 0.4%

Shares of RVMD traded up $0.13 during trading hours on Monday, hitting $36.45. The company had a trading volume of 1,958,128 shares, compared to its average volume of 1,849,430. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The firm has a fifty day moving average price of $37.84 and a 200-day moving average price of $38.49. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of -8.10 and a beta of 1.16. 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 released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same period in the prior year, the company posted ($0.81) earnings per share. The firm's revenue was up .0% compared to the same quarter last year. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS 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.