TD Asset Management Inc Increases Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Key Points

• TD Asset Management Inc increased its stake in Revolution Medicines by 15.8%, acquiring an additional 44,490 shares to bring its total holdings to 325,876 shares, valued at approximately $11.5 million.
• Multiple institutional investors have also made significant moves, with Boxer Capital Management LLC acquiring a new stake worth $187.2 million and Janus Henderson Group PLC boosting its holdings by 54.5%.
• Analysts maintain a consensus "Buy" rating on Revolution Medicines, with target prices ranging from $57.00 to $80.00.

TD Asset Management Inc boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 15.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 325,876 shares of the company's stock after buying an additional 44,490 shares during the period. TD Asset Management Inc owned approximately 0.17% of Revolution Medicines worth $11,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Revolution Medicines by 11.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock valued at $232,000 after purchasing an additional 615 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Revolution Medicines by 11.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock valued at $186,000 after purchasing an additional 434 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Revolution Medicines by 516.0% during the 1st quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock valued at $640,000 after purchasing an additional 15,164 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Revolution Medicines by 51.8% during the 4th quarter. Wells Fargo & Company MN now owns 88,327 shares of the company's stock valued at $3,863,000 after purchasing an additional 30,155 shares in the last quarter. Finally, Baker BROS. Advisors LP grew its position in shares of Revolution Medicines by 4.9% during the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock valued at $347,163,000 after purchasing an additional 367,882 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Up 0.2%

Shares of NASDAQ RVMD traded up $0.07 on Monday, reaching $36.70. 391,489 shares of the company's stock traded hands, compared to its average volume of 1,834,109. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The business's 50 day simple moving average is $38.64 and its two-hundred day simple moving average is $38.88. The company has a market cap of $6.84 billion, a price-to-earnings ratio of -9.17 and a beta of 1.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter last year, the company earned ($0.70) EPS. Analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Oppenheimer boosted their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 target price on shares of Revolution Medicines in a research report on Tuesday, June 24th. The Goldman Sachs Group assumed coverage on shares of Revolution Medicines in a research report on Tuesday, July 15th. They issued a "buy" rating and a $65.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $72.00 target price (down from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Finally, Guggenheim reissued a "buy" rating and issued a $80.00 price target on shares of Revolution Medicines in a research note on Wednesday, June 25th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $68.91.

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.