Victory Capital Management Inc. Decreases Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Victory Capital Management Inc. trimmed its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 337,881 shares of the company's stock after selling 92,581 shares during the period. Victory Capital Management Inc. owned approximately 0.18% of Revolution Medicines worth $11,947,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RVMD. Sterling Capital Management LLC raised its holdings in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after purchasing an additional 1,672 shares during the period. Kapitalo Investimentos Ltda bought a new stake in Revolution Medicines during the fourth quarter valued at about $104,000. Goodman Advisory Group LLC bought a new stake in Revolution Medicines during the first quarter valued at about $127,000. GF Fund Management CO. LTD. raised its holdings in Revolution Medicines by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock valued at $152,000 after acquiring an additional 775 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Revolution Medicines during the fourth quarter valued at about $186,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RVMD has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $57.00 price target on shares of Revolution Medicines in a report on Tuesday, June 24th. Guggenheim reiterated a "buy" rating and issued a $80.00 price target on shares of Revolution Medicines in a research report on Wednesday, June 25th. Oppenheimer lifted their price target on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Stifel Nicolaus dropped their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Wedbush reissued an "outperform" rating and issued a $73.00 price objective (up previously from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $68.91.

Revolution Medicines Price Performance

NASDAQ RVMD traded up $0.68 on Friday, hitting $37.90. The stock had a trading volume of 1,233,538 shares, compared to its average volume of 2,911,908. The business's fifty day moving average price is $38.90 and its 200 day moving average price is $39.05. 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 $7.06 billion, a price-to-earnings ratio of -9.48 and a beta of 1.06.

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