Jefferies Financial Group Inc. Has $5.77 Million Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Key Points

• Jefferies Financial Group Inc. increased its holdings in Revolution Medicines by 618.6% during Q1, owning 163,297 shares valued at approximately $5.77 million.
• The stock has a market cap of $6.82 billion and has experienced a 1.7% decline, with shares trading at $36.63 recently.
• Revolution Medicines has a consensus rating of "Buy" from analysts, with an average price target of $68.91.

Jefferies Financial Group Inc. increased its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 618.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,297 shares of the company's stock after buying an additional 140,572 shares during the quarter. Jefferies Financial Group Inc. owned about 0.09% of Revolution Medicines worth $5,774,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Revolution Medicines by 11.0% during the 1st 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 in the last quarter. Russell Investments Group Ltd. grew its position in Revolution Medicines by 11.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock worth $186,000 after buying an additional 434 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Revolution Medicines by 516.0% in the first quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock valued at $640,000 after buying an additional 15,164 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Revolution Medicines by 51.8% during the 4th quarter. Wells Fargo & Company MN now owns 88,327 shares of the company's stock valued at $3,863,000 after acquiring an additional 30,155 shares during the last quarter. Finally, Baker BROS. Advisors LP boosted its stake in shares of Revolution Medicines by 4.9% during the 4th 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. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Down 4.5%

RVMD traded down $1.72 during trading on Wednesday, reaching $36.67. 1,761,170 shares of the company's stock were exchanged, compared to its average volume of 1,836,451. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The company has a market capitalization of $6.83 billion, a P/E ratio of -9.17 and a beta of 1.16. The business has a 50 day moving average price of $38.62 and a 200 day moving average price of $38.85.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter in the prior year, the business posted ($0.70) EPS. As a group, research analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RVMD. Wedbush restated an "outperform" rating and issued a $73.00 price target (up previously from $67.00) on shares of Revolution Medicines in a research report on Tuesday, June 24th. Oppenheimer increased their target price on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. HC Wainwright reissued a "buy" rating and set a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Needham & Company LLC restated a "buy" rating and issued a $57.00 target price on shares of Revolution Medicines in a report on Tuesday, June 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Revolution Medicines in a report on Tuesday, July 15th. They set a "buy" rating and a $65.00 price target for the company. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $68.91.

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.