Nuveen LLC Purchases Shares of 477,860 Revolution Medicines, Inc. $RVMD

Key Points

• Nuveen LLC initiated a $16.90 million investment in Revolution Medicines during the first quarter, acquiring 477,860 shares, which represents 0.26% ownership in the company.
• The stock's performance shows a market cap of $6.76 billion with a P/E ratio of -8.04, and it has fluctuated between a 52-week low of $29.17 and a high of $62.40.
• Equities analysts are optimistic about Revolution Medicines, with a consensus rating of "Buy" and an average target price of $69.92.

Nuveen LLC acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 477,860 shares of the company's stock, valued at approximately $16,897,000. Nuveen LLC owned about 0.26% of Revolution Medicines as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RVMD. Boxer Capital Management LLC purchased a new stake in Revolution Medicines during the fourth quarter valued at about $187,184,000. Janus Henderson Group PLC lifted its holdings in shares of Revolution Medicines by 54.5% in the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock worth $414,777,000 after buying an additional 3,346,755 shares in the last quarter. Lunate Capital Ltd bought a new position in shares of Revolution Medicines in the first quarter valued at approximately $77,658,000. Farallon Capital Management LLC boosted its position in shares of Revolution Medicines by 17.1% in the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after acquiring an additional 1,931,000 shares during the period. Finally, Nextech Invest Ltd. grew its stake in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after acquiring an additional 1,304,347 shares in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Price Performance

Shares of RVMD stock traded up $0.53 during trading on Friday, hitting $37.01. The company had a trading volume of 1,091,784 shares, compared to its average volume of 1,900,156. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13. The stock's 50-day moving average is $37.48 and its two-hundred day moving average is $38.39. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.37). Revolution Medicines's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.81) EPS. Research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $72.00 price target (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. Needham & Company LLC decreased their target price on Revolution Medicines from $57.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Wedbush reiterated an "outperform" rating and set a $73.00 price target (up previously from $67.00) on shares of Revolution Medicines in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company started coverage on Revolution Medicines in a report on Friday, August 15th. They set an "overweight" rating and a $67.00 price objective for the company. Thirteen analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $69.92.

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.