Jump Financial LLC Makes New Investment in Revolution Medicines, Inc. $RVMD

Key Points

• Jump Financial LLC made a new investment in Revolution Medicines, Inc., purchasing 8,121 shares valued at approximately $287,000 during the 1st quarter.
• Revolution Medicines reported a loss of $1.31 per share for the last quarter, missing expectations, although their quarterly revenue increased by a slight margin compared to last year.
• The stock currently holds a consensus rating of "Buy" from analysts, with a price target averaging $69.92.

Jump Financial LLC purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,121 shares of the company's stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. CW Advisors LLC purchased a new position in Revolution Medicines in the 1st quarter worth approximately $654,000. T. Rowe Price Investment Management Inc. purchased a new position in Revolution Medicines in the 1st quarter worth approximately $59,173,000. Wellington Management Group LLP grew its stake in Revolution Medicines by 8.9% in the 1st quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company's stock worth $416,821,000 after buying an additional 966,230 shares in the last quarter. American Century Companies Inc. grew its stake in Revolution Medicines by 15.6% in the 1st quarter. American Century Companies Inc. now owns 741,860 shares of the company's stock worth $26,232,000 after buying an additional 100,214 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Revolution Medicines by 6,410.3% in the 1st quarter. Russell Investments Group Ltd. now owns 276,230 shares of the company's stock worth $9,768,000 after buying an additional 271,987 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Insider Buying and Selling

In related news, CFO Jack Anders sold 5,238 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total transaction of $210,410.46. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.20% of the stock is owned by corporate insiders.

Revolution Medicines Trading Up 4.0%

NASDAQ:RVMD traded up $1.55 during midday trading on Friday, reaching $40.50. 1,705,576 shares of the stock traded hands, compared to its average volume of 1,952,136. The company has a fifty day moving average of $37.33 and a 200 day moving average of $38.11. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. 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 stock has a market capitalization of $7.57 billion, a P/E ratio of -9.00 and a beta of 1.12.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). During the same quarter in the prior year, the company posted ($0.81) EPS. Revolution Medicines's quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RVMD shares. Piper Sandler started coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They issued an "overweight" rating and a $75.00 price objective for the company. Guggenheim reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Revolution Medicines in a research note on Wednesday, June 25th. Truist Financial started coverage on shares of Revolution Medicines in a research note on Friday. They issued a "buy" rating and a $99.00 price objective for the company. Wells Fargo & Company started coverage on shares of Revolution Medicines in a research note on Friday, August 15th. They issued an "overweight" rating and a $67.00 price objective for the company. Finally, Wedbush reaffirmed an "outperform" rating and issued a $73.00 price objective (up previously from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Fourteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of "Buy" and an average price target of $72.00.

About Revolution Medicines

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.