SG Americas Securities LLC raised its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 516.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,103 shares of the company's stock after purchasing an additional 15,164 shares during the quarter. SG Americas Securities LLC's holdings in Revolution Medicines were worth $640,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. IFP Advisors Inc acquired a new position in Revolution Medicines during the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC raised its holdings in shares of Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after buying an additional 1,672 shares during the period. Farther Finance Advisors LLC boosted its holdings in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after acquiring an additional 1,613 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Revolution Medicines in the fourth quarter valued at approximately $104,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Revolution Medicines during the fourth quarter valued at approximately $154,000. 94.34% of the stock is owned by hedge funds and other institutional investors.
Revolution Medicines Stock Performance
Shares of RVMD stock traded down $0.27 during trading hours on Friday, hitting $39.66. 2,506,128 shares of the company were exchanged, compared to its average volume of 1,541,221. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of -9.92 and a beta of 1.10. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The business's 50-day simple moving average is $39.40 and its two-hundred day simple moving average is $40.25.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter in the previous year, the business posted ($0.70) earnings per share. As a group, analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on RVMD. 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. Stifel Nicolaus cut their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Wedbush reissued an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, May 8th. Oppenheimer lifted their target price on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $57.00 price target on shares of Revolution Medicines in a research note on Thursday, May 8th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $67.08.
Check Out Our Latest Analysis on RVMD
Revolution Medicines Profile
(
Free Report)
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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