Edgestream Partners L.P. Purchases 207,938 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Edgestream Partners L.P. raised its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 2,673.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,717 shares of the company's stock after acquiring an additional 207,938 shares during the period. Edgestream Partners L.P. owned approximately 0.12% of Revolution Medicines worth $7,628,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in shares of Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after acquiring an additional 1,672 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after acquiring an additional 1,613 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $104,000. Goodman Advisory Group LLC bought a new stake in shares of Revolution Medicines in the first quarter valued at approximately $127,000. Finally, GF Fund Management CO. LTD. boosted its stake in shares of Revolution Medicines by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock valued at $152,000 after buying an additional 775 shares during the period. Institutional investors own 94.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RVMD. HC Wainwright reiterated a "buy" rating and issued a $72.00 price target (down from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Guggenheim reiterated a "buy" rating and issued a $80.00 price target on shares of Revolution Medicines in a research note on Wednesday, June 25th. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 price target on shares of Revolution Medicines in a research note on Tuesday, June 24th. Wedbush reiterated an "outperform" rating and issued a $73.00 price target (up from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Finally, Stifel Nicolaus cut their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $68.91.

Revolution Medicines Trading Up 1.7%

NASDAQ RVMD traded up $0.65 on Thursday, hitting $39.05. 1,488,011 shares of the company's stock were exchanged, compared to its average volume of 1,620,581. The stock has a 50-day moving average of $39.16 and a 200-day moving average of $39.34. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of -9.76 and a beta of 1.06.

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

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.