Invesco Ltd. Has $6.73 Million Stock Holdings in Revolution Medicines, Inc. $RVMD

Key Points

• Invesco Ltd. increased its stake in Revolution Medicines, Inc. by 61.7% in Q1, now holding 190,259 shares worth approximately $6.73 million.
• Several institutional investors have recently engaged with the stock, with PNC Financial Services Group growing its stake by 349.7% during the same quarter.
• Wall Street analysts show a consensus Buy rating for Revolution Medicines and a target price averaging $69.92, with expectations of a -3.49 EPS for the current year.

Invesco Ltd. raised its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 61.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,259 shares of the company's stock after purchasing an additional 72,607 shares during the quarter. Invesco Ltd. owned approximately 0.10% of Revolution Medicines worth $6,728,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Kapitalo Investimentos Ltda bought a new position in shares of Revolution Medicines in the fourth quarter valued at $104,000. Goodman Advisory Group LLC bought a new position in shares of Revolution Medicines in the first quarter valued at $127,000. GF Fund Management CO. LTD. grew its stake in shares of Revolution Medicines by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock valued at $152,000 after buying an additional 775 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Revolution Medicines by 349.7% in the first 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. Finally, BIT Capital GmbH bought a new position in shares of Revolution Medicines in the first quarter valued at $178,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $72.00 target price (down from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Wedbush reissued an "outperform" rating and issued a $73.00 target price (up from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Piper Sandler started coverage on Revolution Medicines in a research note on Monday, August 18th. They set an "overweight" rating and a $75.00 target price for the company. The Goldman Sachs Group started coverage on Revolution Medicines in a research note on Tuesday, July 15th. They set a "buy" rating and a $65.00 target price for the company. Finally, Needham & Company LLC reduced their target price on Revolution Medicines from $57.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Revolution Medicines currently has a consensus rating of "Buy" and a consensus target price of $69.92.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $37.28 on Wednesday. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The stock has a 50 day moving average of $37.36 and a 200-day moving average of $38.26. The company has a market capitalization of $6.97 billion, a P/E ratio of -8.28 and a beta of 1.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly 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). The firm's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.81) earnings per share. As a group, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

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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