Vanguard Group Inc. Reduces Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Vanguard Group Inc. trimmed its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,612,035 shares of the company's stock after selling 484,420 shares during the quarter. Vanguard Group Inc. owned approximately 8.92% of Revolution Medicines worth $587,402,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RVMD. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 acquiring an additional 615 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Revolution Medicines by 11.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock valued at $186,000 after acquiring an additional 434 shares in the last quarter. SG Americas Securities LLC boosted 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 valued at $640,000 after acquiring an additional 15,164 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Revolution Medicines by 51.8% in the fourth quarter. Wells Fargo & Company MN now owns 88,327 shares of the company's stock valued at $3,863,000 after acquiring an additional 30,155 shares in the last quarter. Finally, Baker BROS. Advisors LP boosted its stake in Revolution Medicines by 4.9% in the fourth quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock valued at $347,163,000 after acquiring an additional 367,882 shares in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD traded up $0.30 during trading on Friday, reaching $36.32. 1,391,929 shares of the company traded hands, compared to its average volume of 1,886,910. The firm's fifty day simple moving average is $37.93 and its 200 day simple moving average is $38.57. The stock has a market cap of $6.79 billion, a P/E ratio of -8.07 and a beta of 1.16. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $62.40. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13.

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). The company's revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.81) earnings per share. As a group, research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RVMD shares. The Goldman Sachs Group started coverage on shares of Revolution Medicines in a research note on Tuesday, July 15th. They issued a "buy" rating and a $65.00 target price for the company. 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. Wedbush restated an "outperform" rating and issued a $73.00 target price (up from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Needham & Company LLC lowered their price objective on shares of Revolution Medicines from $57.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, Wells Fargo & Company assumed coverage on Revolution Medicines in a research report on Friday. They issued an "overweight" rating and a $67.00 target price on the stock. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $68.67.

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.