Russell Investments Group Ltd. Purchases 271,987 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• Russell Investments Group Ltd. increased its stake in Revolution Medicines by 6,410.3% in Q1, now owning approximately $9.77 million worth of shares.
• Revolution Medicines reported a quarterly earnings loss of ($1.31) EPS, missing analyst estimates, but its revenue saw a slight increase compared to the previous year.
• Current market analysis from various brokers projects a strong outlook for Revolution Medicines, with a consensus rating of "Buy" and an average price target of $69.54.

Russell Investments Group Ltd. boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 6,410.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 276,230 shares of the company's stock after acquiring an additional 271,987 shares during the period. Russell Investments Group Ltd. owned 0.15% of Revolution Medicines worth $9,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Revolution Medicines by 2.1% during the first quarter. Principal Financial Group Inc. now owns 12,792 shares of the company's stock worth $452,000 after acquiring an additional 259 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of Revolution Medicines by 5.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock worth $498,000 after buying an additional 545 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Revolution Medicines by 11.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock worth $232,000 after buying an additional 615 shares during the period. GF Fund Management CO. LTD. boosted its stake in shares of Revolution Medicines by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock worth $152,000 after buying an additional 775 shares during the period. Finally, Xponance Inc. raised its holdings in Revolution Medicines by 6.7% during the first quarter. Xponance Inc. now owns 12,937 shares of the company's stock worth $457,000 after purchasing an additional 810 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Trading Up 1.5%

Shares of RVMD stock traded up $0.53 during trading hours on Friday, reaching $37.01. 1,091,784 shares of the stock traded hands, compared to its average volume of 1,900,156. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The business has a fifty day moving average price of $37.48 and a 200 day moving average price of $38.39. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $6.92 billion, a PE ratio of -8.22 and a beta of 1.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data 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 quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.81) EPS. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Oppenheimer increased their target price on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Lifesci Capital started coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They set an "outperform" rating and a $80.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Revolution Medicines in a report on Tuesday, July 15th. They issued a "buy" rating and a $65.00 price target on the stock. Wells Fargo & Company started coverage on shares of Revolution Medicines in a research note on Friday, August 15th. They issued an "overweight" rating and a $67.00 target price on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $72.00 target price (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Thirteen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Revolution Medicines currently 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.