S&CO Inc. Buys New Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Key Points

• S&CO Inc. acquired 9,171 shares of Revolution Medicines, valued at approximately $324,000, as part of their first-quarter investment.
• Revolution Medicines has a market cap of $6.94 billion and has seen significant activity from institutional investors, with 94.34% of its stock owned by hedge funds.
• The company's recent earnings report showed an EPS of ($1.13), missing expectations, while analysts maintain a consensus "Buy" rating with a price target of approximately $68.91.

S&CO Inc. acquired a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,171 shares of the company's stock, valued at approximately $324,000.

Several other hedge funds and other institutional investors have also bought and sold shares of RVMD. Quantbot Technologies LP purchased a new position in Revolution Medicines in the fourth quarter worth $186,000. KLP Kapitalforvaltning AS bought a new stake in shares of Revolution Medicines in the fourth quarter valued at $1,028,000. Corebridge Financial Inc. raised its stake in shares of Revolution Medicines by 2.1% in the fourth quarter. Corebridge Financial Inc. now owns 83,213 shares of the company's stock valued at $3,640,000 after buying an additional 1,739 shares during the period. Prudential Financial Inc. raised its stake in shares of Revolution Medicines by 11.0% in the fourth quarter. Prudential Financial Inc. now owns 46,859 shares of the company's stock valued at $2,050,000 after buying an additional 4,645 shares during the period. Finally, Norges Bank bought a new stake in shares of Revolution Medicines in the fourth quarter valued at $76,197,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RVMD shares. Wedbush reiterated an "outperform" rating and set a $73.00 price objective (up from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. The Goldman Sachs Group assumed coverage on Revolution Medicines in a research note on Tuesday, July 15th. They issued a "buy" rating and a $65.00 target price on the stock. Oppenheimer upped their target price on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $57.00 target price on shares of Revolution Medicines in a research note on Tuesday, June 24th. Finally, HC Wainwright restated a "buy" rating and issued a $72.00 target price (down from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Revolution Medicines has an average rating of "Buy" and an average target price of $68.91.

Revolution Medicines Price Performance

RVMD stock traded down $0.64 during trading on Friday, hitting $36.63. The stock had a trading volume of 977,751 shares, compared to its average volume of 1,841,962. The stock has a market capitalization of $6.82 billion, a P/E ratio of -9.16 and a beta of 1.06. The company's 50-day moving average price is $38.71 and its two-hundred day moving average price is $38.92. 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 earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter in the prior year, the firm earned ($0.70) earnings per share. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal 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.