Revolution Medicines, Inc. $RVMD Stock Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Revolution Medicines stake by 303.1% in the third quarter, adding 433,393 shares to hold 576,371 shares worth about $118.3 million. Institutional investors and hedge funds own 94.34% of the stock.
• Analyst sentiment is broadly positive: 21 analysts rate RVMD a Buy, with a consensus “Moderate Buy” rating and a $262.75 average price target.
• Revolution Medicines reported quarterly EPS of -$1.90, beating estimates of -$2.35, and revenue of $197.56 million versus expectations of $25.58 million.

Aberdeen Group plc increased its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 303.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 576,371 shares of the company's stock after buying an additional 433,393 shares during the quarter. Aberdeen Group plc owned 0.27% of Revolution Medicines worth $118,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of RVMD. Allworth Financial LP grew its stake in Revolution Medicines by 9.0% during the 3rd quarter. Allworth Financial LP now owns 2,442 shares of the company's stock valued at $457,000 after acquiring an additional 202 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Revolution Medicines in the third quarter worth approximately $304,000. Fifth Third Bancorp boosted its holdings in shares of Revolution Medicines by 56.2% during the third quarter. Fifth Third Bancorp now owns 4,100 shares of the company's stock worth $842,000 after purchasing an additional 1,475 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Revolution Medicines by 14.6% during the third quarter. Maryland State Retirement & Pension System now owns 11,608 shares of the company's stock worth $2,383,000 after purchasing an additional 1,478 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in shares of Revolution Medicines by 10.6% during the third quarter. Ritholtz Wealth Management now owns 4,480 shares of the company's stock worth $920,000 after purchasing an additional 429 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. HC Wainwright upped their price objective on shares of Revolution Medicines from $280.00 to $350.00 and gave the company a "buy" rating in a research note on Friday, November 6th. Bank of America decreased their target price on shares of Revolution Medicines from $265.00 to $264.00 and set a "buy" rating for the company in a research note on Friday, October 9th. Wedbush lifted their target price on shares of Revolution Medicines from $201.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Brookline Capital Markets assumed coverage on shares of Revolution Medicines in a report on Monday, September 28th. They set a "buy" rating and a $318.00 price target on the stock. Finally, Royal Bank Of Canada upped their price target on shares of Revolution Medicines from $260.00 to $321.00 and gave the stock an "outperform" rating in a research note on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Revolution Medicines presently has a consensus rating of "Moderate Buy" and a consensus price target of $262.75.

Revolution Medicines Stock Performance

Shares of RVMD opened at $172.29 on Friday. The firm has a market cap of $37.26 billion, a price-to-earnings ratio of -18.91 and a beta of 1.44. The company's fifty day moving average is $194.46 and its 200-day moving average is $159.42. The company has a quick ratio of 8.34, a current ratio of 8.36 and a debt-to-equity ratio of 0.44. Revolution Medicines, Inc. has a 12 month low of $63.50 and a 12 month high of $224.31.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($1.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.35) by $0.45. The business had revenue of $197.56 million during the quarter, compared to analyst estimates of $25.58 million. During the same period in the previous year, the firm posted ($1.61) EPS. Equities analysts expect that Revolution Medicines, Inc. will post -7.41 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In other news, Director Lorence H. Kim sold 56,000 shares of the company's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $203.24, for a total transaction of $11,381,440.00. Following the completion of the sale, the director owned 17,090 shares in the company, valued at approximately $3,473,371.60. This represents a 76.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Kelsey sold 92,531 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $202.36, for a total value of $18,724,573.16. Following the transaction, the insider directly owned 291,876 shares in the company, valued at approximately $59,064,027.36. This represents a 24.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 326,741 shares of company stock valued at $66,147,340. Insiders own 7.60% of the company's stock.

Revolution Medicines Profile

Revolution Medicines, Inc. is a biotechnology company focused on developing targeted therapies for patients with RAS-driven cancers. Founded in 2014 and headquartered in Redwood City, California, the company's research centers on RAS proteins, which can contribute to the growth of many cancers. The company's pipeline includes drug candidates designed to inhibit mutant RAS proteins, including daraxonrasib (RMC-6236), which targets multiple RAS variants, and candidates directed at specific KRAS mutations.

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