Revolution Medicines, Inc. $RVMD Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Revolution Medicines by 5.6%, selling 17,994 shares, and now holds 303,617 shares valued at approximately $10.7 million.
• Revolution Medicines recently reported a loss of ($1.31) EPS for the last quarter, which was below analyst expectations, with revenue showing a slight increase of 0.0% compared to the previous year.
• Thirteen analysts currently rate Revolution Medicines' stock as a Buy, with an average target price of $69.92, signaling strong bullish sentiment among analysts.

Raymond James Financial Inc. decreased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 303,617 shares of the company's stock after selling 17,994 shares during the period. Raymond James Financial Inc. owned 0.16% of Revolution Medicines worth $10,736,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in shares of Revolution Medicines during the fourth quarter worth $154,000. Goodman Advisory Group LLC purchased a new position in Revolution Medicines during the 1st quarter worth $127,000. PNC Financial Services Group Inc. increased its position in Revolution Medicines by 349.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company's stock valued at $160,000 after buying an additional 3,518 shares in the last quarter. Sandia Investment Management LP purchased a new stake in Revolution Medicines in the fourth quarter valued at about $219,000. Finally, BIT Capital GmbH purchased a new stake in Revolution Medicines in the first quarter valued at about $178,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Performance

NASDAQ RVMD traded up $0.24 on Wednesday, reaching $39.77. 1,794,176 shares of the company's stock traded hands, compared to its average volume of 1,873,605. 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 debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of -8.84 and a beta of 1.12. The stock has a 50 day moving average price of $37.20 and a 200-day moving average price of $38.15.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results 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 quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.81) earnings per share. Equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Piper Sandler initiated coverage on shares of Revolution Medicines in a report on Monday, August 18th. They set an "overweight" rating and a $75.00 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $72.00 target price (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Wedbush restated an "outperform" rating and set a $73.00 price target (up previously from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Needham & Company LLC decreased their price target on shares of Revolution Medicines from $57.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Finally, Guggenheim reissued a "buy" rating and set a $80.00 price objective on shares of Revolution Medicines in a report on Wednesday, June 25th. Thirteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $69.92.

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.