Revolution Medicines, Inc. $RVMD Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC has increased its holdings in Revolution Medicines, Inc. by 48.8%, owning approximately 107,628 shares valued at about $3.81 million.
• Several institutional investors, including Deutsche Bank AG and Nextech Invest Ltd., have also significantly raised their stakes in Revolution Medicines, indicating strong investor interest.
• The average target price for Revolution Medicines is $73.67, with notable upgrades from analysts, including a boost from Needham & Company from $56 to $66, reflecting a consensus "Buy" rating.

Intech Investment Management LLC grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 48.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,628 shares of the company's stock after purchasing an additional 35,300 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Revolution Medicines worth $3,806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Revolution Medicines by 11.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock valued at $232,000 after acquiring an additional 615 shares during the period. SG Americas Securities LLC grew its position 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 valued at $640,000 after acquiring an additional 15,164 shares during the period. Granahan Investment Management LLC grew its position in shares of Revolution Medicines by 6.1% during the 1st quarter. Granahan Investment Management LLC now owns 126,752 shares of the company's stock valued at $4,482,000 after acquiring an additional 7,322 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Revolution Medicines during the 1st quarter valued at about $502,000. Finally, PNC Financial Services Group Inc. lifted its stake in Revolution Medicines by 349.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company's stock valued at $160,000 after buying an additional 3,518 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Insiders Place Their Bets

In related news, CFO Jack Anders sold 5,238 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total value of $210,410.46. Following the completion of the sale, the chief financial officer directly owned 113,314 shares of the company's stock, valued at $4,551,823.38. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is currently owned by company insiders.

Revolution Medicines Stock Down 0.8%

Shares of Revolution Medicines stock traded down $0.35 during trading on Monday, hitting $46.20. 1,700,335 shares of the stock were exchanged, compared to its average volume of 1,985,671. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $62.40. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of -10.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79. The firm's 50-day moving average price is $38.13 and its 200 day moving average price is $38.20.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results 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 firm earned ($0.81) EPS. The firm's revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RVMD shares. Needham & Company LLC raised their price target on shares of Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday. Lifesci Capital assumed coverage on shares of Revolution Medicines in a report on Monday, August 18th. They set an "outperform" rating and a $80.00 price target for the company. Piper Sandler started coverage on shares of Revolution Medicines in a report on Monday, August 18th. They set an "overweight" rating and a $75.00 price target for the company. Wedbush lifted their target price on shares of Revolution Medicines from $73.00 to $77.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Truist Financial started coverage on shares of Revolution Medicines in a report on Friday, September 5th. They issued a "buy" rating and a $99.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $73.67.

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.