Revolution Medicines, Inc. $RVMD Shares Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Revolution Medicines by 18.2% during the second quarter, now owning approximately $4.5 million worth of shares.
• Revolution Medicines recently reported quarterly earnings, with a loss of ($1.31) EPS, which was below analysts' expectations.
• Analysts have given Revolution Medicines an average rating of "Buy", with price targets ranging from $66.00 to $80.00 per share following positive sentiment from several research firms.

Allianz Asset Management GmbH grew its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 18.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,545 shares of the company's stock after acquiring an additional 18,888 shares during the quarter. Allianz Asset Management GmbH owned about 0.07% of Revolution Medicines worth $4,508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC increased its stake in shares of Revolution Medicines by 171.3% during the 2nd quarter. CWM LLC now owns 917 shares of the company's stock valued at $34,000 after acquiring an additional 579 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of Revolution Medicines during the 1st quarter valued at about $42,000. Quarry LP acquired a new position in shares of Revolution Medicines during the 1st quarter valued at about $50,000. Twin Tree Management LP acquired a new position in shares of Revolution Medicines during the 1st quarter valued at about $58,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of Revolution Medicines during the 1st quarter valued at about $127,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Insider Activity at Revolution Medicines

In other news, COO Margaret A. Horn sold 4,775 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $218,790.50. Following the sale, the chief operating officer owned 145,900 shares in the company, valued at $6,685,138. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 13,411 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $614,492.02. Following the sale, the insider owned 452,309 shares in the company, valued at $20,724,798.38. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,033 shares of company stock valued at $8,456,208. 8.20% of the stock is currently owned by corporate insiders.

Revolution Medicines Trading Up 0.9%

RVMD opened at $53.44 on Friday. The firm has a market capitalization of $9.99 billion, a P/E ratio of -11.88 and a beta of 1.27. The firm's 50 day moving average is $43.83 and its 200-day moving average is $40.14. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). The business's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.81) EPS. Analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RVMD shares. Needham & Company LLC upped their price objective on shares of Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. National Bankshares set a $80.00 price target on shares of Revolution Medicines in a report on Friday, October 17th. The Goldman Sachs Group boosted their price objective on shares of Revolution Medicines from $65.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Lifesci Capital initiated coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They issued an "outperform" rating and a $80.00 price objective for the company. Finally, Wedbush reissued an "outperform" rating and issued a $77.00 target price on shares of Revolution Medicines in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Revolution Medicines presently has an average rating of "Buy" and an average price target of $77.50.

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.

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