Jefferies Financial Group Inc. Has $5.77 Million Holdings 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 stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 618.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 163,297 shares of the company's stock after acquiring an additional 140,572 shares during the period. Jefferies Financial Group Inc. owned approximately 0.09% of Revolution Medicines worth $5,774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its holdings in shares of Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after acquiring an additional 1,672 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Revolution Medicines during the 4th quarter worth $104,000. Goodman Advisory Group LLC acquired a new position in Revolution Medicines during the 1st quarter worth $127,000. GF Fund Management CO. LTD. lifted its holdings 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 during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Revolution Medicines by 11.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock valued at $186,000 after buying an additional 434 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several research analyst reports. HC Wainwright restated a "buy" rating and issued a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Oppenheimer boosted their target price on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. The Goldman Sachs Group initiated coverage on Revolution Medicines in a research report on Tuesday, July 15th. They set a "buy" rating and a $65.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a research report on Tuesday, June 24th. Finally, Wedbush reissued an "outperform" rating and set a $73.00 price target (up from $67.00) on shares of Revolution Medicines in a research report on Tuesday, June 24th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $68.91.

Revolution Medicines Trading Up 1.5%

NASDAQ:RVMD traded up $0.55 during mid-day trading on Monday, hitting $37.18. 842,414 shares of the company's stock traded hands, compared to its average volume of 1,523,313. The firm has a 50 day moving average of $38.64 and a two-hundred day moving average of $38.88. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of -9.30 and a beta of 1.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same period last year, the business earned ($0.70) earnings per share. As a group, equities research analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share 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.