WCM Investment Management LLC Acquires 88,520 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

WCM Investment Management LLC boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 56.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 245,997 shares of the company's stock after buying an additional 88,520 shares during the period. WCM Investment Management LLC owned approximately 0.13% of Revolution Medicines worth $9,188,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Lunate Capital Ltd acquired a new stake in shares of Revolution Medicines in the first quarter valued at approximately $77,658,000. KBC Group NV raised its holdings in shares of Revolution Medicines by 23.1% in the first quarter. KBC Group NV now owns 6,131 shares of the company's stock valued at $217,000 after purchasing an additional 1,152 shares during the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of Revolution Medicines in the first quarter valued at approximately $127,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Revolution Medicines by 11.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock valued at $232,000 after purchasing an additional 615 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Revolution Medicines by 516.0% in the first quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock valued at $640,000 after purchasing an additional 15,164 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Price Performance

RVMD stock traded down $0.19 during midday trading on Friday, reaching $37.00. 1,106,610 shares of the company were exchanged, compared to its average volume of 1,678,397. The business has a 50-day moving average price of $39.54 and a two-hundred day moving average price of $39.66. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of -9.25 and a beta of 1.06.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same period in the previous year, the company earned ($0.70) EPS. As a group, analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RVMD. HC Wainwright reiterated a "buy" rating and issued a $72.00 price objective (down from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Stifel Nicolaus lowered their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 price objective on shares of Revolution Medicines in a report on Tuesday, June 24th. Wedbush reiterated an "outperform" rating and issued a $73.00 price objective (up from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Finally, Oppenheimer raised their target price on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $67.58.

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.