Dynamic Technology Lab Private Ltd Makes New Investment in Revolution Medicines, Inc. $RVMD

Key Points

• Dynamic Technology Lab Private Ltd has invested approximately $502,000 in Revolution Medicines, acquiring 14,188 shares of stock.
• Institutional ownership of Revolution Medicines is significant, with over 94% of the stock held by institutional investors, including new stakes from several firms.
• Analysts have a consensus rating of "Buy" for Revolution Medicines, with an average target price of $72.00, and various institutions have set target prices ranging from $56.00 to $80.00.

Dynamic Technology Lab Private Ltd bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,188 shares of the company's stock, valued at approximately $502,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of Revolution Medicines by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company's stock valued at $416,821,000 after purchasing an additional 966,230 shares during the last quarter. Nextech Invest Ltd. lifted its holdings in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its holdings in shares of Revolution Medicines by 23.3% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,553,111 shares of the company's stock valued at $286,633,000 after purchasing an additional 1,239,022 shares during the last quarter. BVF Inc. IL lifted its holdings in shares of Revolution Medicines by 19.2% during the 1st quarter. BVF Inc. IL now owns 4,982,384 shares of the company's stock valued at $176,177,000 after purchasing an additional 801,205 shares during the last quarter. Finally, Woodline Partners LP lifted its holdings in shares of Revolution Medicines by 13.2% during the 4th quarter. Woodline Partners LP now owns 3,885,713 shares of the company's stock valued at $169,961,000 after purchasing an additional 452,000 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Raymond James Financial assumed coverage on Revolution Medicines in a report on Friday. They set a "strong-buy" rating and a $72.00 price objective for the company. The Goldman Sachs Group increased their price objective on Revolution Medicines from $65.00 to $73.00 and gave the company a "buy" rating in a report on Friday. Needham & Company LLC increased their price objective on Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, September 11th. Guggenheim reiterated a "buy" rating and set a $80.00 price objective on shares of Revolution Medicines in a report on Wednesday, June 25th. Finally, Wells Fargo & Company upped their target price on Revolution Medicines from $67.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $73.67.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD traded down $1.50 during mid-day trading on Tuesday, hitting $44.70. The stock had a trading volume of 2,871,229 shares, compared to its average volume of 1,972,781. 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 company has a 50 day moving average of $38.30 and a two-hundred day moving average of $38.25. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The firm has a market cap of $8.36 billion, a PE ratio of -9.93 and a beta of 1.12.

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

Insider Activity

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 25,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $45.97, for a total transaction of $1,149,250.00. Following the sale, the insider directly owned 289,414 shares of the company's stock, valued at approximately $13,304,361.58. This trade represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jack Anders sold 5,238 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total value of $210,410.46. Following the sale, the chief financial officer directly owned 113,314 shares in the company, valued at $4,551,823.38. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 135,000 shares of company stock worth $5,958,236 over the last ninety days. 8.20% of the stock is owned by insiders.

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.