Revolution Medicines, Inc. $RVMD Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Revolution Medicines by 6.7% during Q1, acquiring an additional 6,877 shares, bringing its total ownership to about $3.87 million.
• Several other institutional investors also purchased positions in Revolution Medicines during the same quarter, with a total of 94.34% of the stock now owned by institutional investors.
• Analysts have set a consensus price target of $73.67 for Revolution Medicines, with the stock receiving multiple "buy" ratings recently, indicating strong confidence in its performance.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,004 shares of the company's stock after acquiring an additional 6,877 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Revolution Medicines worth $3,870,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Revolution Medicines by 11.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock worth $232,000 after acquiring an additional 615 shares during the period. SG Americas Securities LLC grew its stake in Revolution Medicines by 516.0% in the first quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock worth $640,000 after purchasing an additional 15,164 shares in the last quarter. Granahan Investment Management LLC increased its stake in shares of Revolution Medicines by 6.1% in the first quarter. Granahan Investment Management LLC now owns 126,752 shares of the company's stock valued at $4,482,000 after purchasing an additional 7,322 shares during the period. PNC Financial Services Group Inc. boosted its holdings 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 acquiring an additional 3,518 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in Revolution Medicines during the first quarter valued at approximately $2,094,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Trading Down 0.8%

Shares of RVMD traded down $0.35 during mid-day trading on Monday, hitting $46.20. 1,700,335 shares of the company's stock traded hands, compared to its average volume of 1,985,671. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $62.40. The firm has a market capitalization of $8.64 billion, a P/E ratio of -10.27 and a beta of 1.12. The business'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 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 period in the prior year, the company earned ($0.81) earnings per share. Revolution Medicines's quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RVMD. Piper Sandler started coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They issued an "overweight" rating and a $75.00 price target on the stock. Truist Financial initiated coverage on Revolution Medicines in a research note on Friday, September 5th. They issued a "buy" rating and a $99.00 target price on the stock. Raymond James Financial initiated coverage on Revolution Medicines in a report on Friday. They set a "strong-buy" rating and a $72.00 price objective for the company. Needham & Company LLC raised their price objective on Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Wedbush increased their price target on Revolution Medicines from $73.00 to $77.00 and gave the stock an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $73.67.

Insiders Place Their Bets

In related news, CFO Jack Anders sold 5,238 shares of Revolution Medicines stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total value of $210,410.46. Following the completion of the transaction, the chief financial officer owned 113,314 shares in the company, valued at $4,551,823.38. The trade was a 4.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.20% of the company's stock.

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.