Revolution Medicines, Inc. $RVMD Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Revolution Medicines, Inc. by 5.4%, now owning 163,419 shares worth approximately $5.78 million.
• Revolution Medicines reported a quarterly loss of ($1.31) earnings per share, missing analysts' expectations by $0.37.
• Thirteen analysts currently rate Revolution Medicines with a Buy, with an average target price of $69.92 per share.

Rafferty Asset Management LLC lowered its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 5.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 163,419 shares of the company's stock after selling 9,367 shares during the quarter. Rafferty Asset Management LLC owned 0.09% of Revolution Medicines worth $5,778,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda acquired a new stake in Revolution Medicines in the 4th quarter valued at $104,000. GF Fund Management CO. LTD. acquired a new stake in Revolution Medicines during the 4th quarter worth $154,000. Goodman Advisory Group LLC acquired a new stake in Revolution Medicines during the 1st quarter worth $127,000. PNC Financial Services Group Inc. boosted its stake in Revolution Medicines by 349.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company's stock worth $160,000 after purchasing an additional 3,518 shares during the last quarter. Finally, Sandia Investment Management LP acquired a new stake in Revolution Medicines during the 4th quarter worth $219,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Trading Up 0.8%

Shares of RVMD stock opened at $38.33 on Friday. The company's 50-day moving average price is $37.29 and its 200-day moving average price is $38.23. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of -8.52 and a beta of 1.16. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.37). The company's revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.81) EPS. As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RVMD shares. The Goldman Sachs Group started coverage on shares of Revolution Medicines in a research note on Tuesday, July 15th. They set a "buy" rating and a $65.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and set a $73.00 target price (up previously from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Lifesci Capital started coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They set an "outperform" rating and a $80.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $72.00 target price (down previously from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Finally, Guggenheim reaffirmed a "buy" rating and set a $80.00 target price on shares of Revolution Medicines in a research note on Wednesday, June 25th. Thirteen 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 $69.92.

About Revolution Medicines

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.

Want to see what other hedge funds are holding RVMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.