Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Bought by TD Asset Management Inc

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 raised its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 15.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,876 shares of the company's stock after buying an additional 44,490 shares during the period. TD Asset Management Inc owned about 0.17% of Revolution Medicines worth $11,523,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RVMD. Boxer Capital Management LLC purchased a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $187,184,000. Janus Henderson Group PLC boosted its position in shares of Revolution Medicines by 54.5% during the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock valued at $414,777,000 after buying an additional 3,346,755 shares during the period. Lunate Capital Ltd purchased a new position in shares of Revolution Medicines during the first quarter valued at approximately $77,658,000. Farallon Capital Management LLC boosted its position in shares of Revolution Medicines by 17.1% during the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after buying an additional 1,931,000 shares during the period. Finally, Norges Bank purchased a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $76,197,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Trading Down 1.7%

Shares of RVMD traded down $0.64 during midday trading on Friday, hitting $36.63. 978,549 shares of the company's stock traded hands, compared to its average volume of 1,474,059. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $62.40. The firm's fifty day moving average is $38.64 and its 200-day moving average is $38.89. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -9.16 and a beta of 1.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter in the previous year, the firm posted ($0.70) earnings per share. On average, equities research analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on RVMD. Guggenheim restated a "buy" rating and set a $80.00 target price on shares of Revolution Medicines in a research report on Wednesday, June 25th. Wedbush reiterated an "outperform" rating and issued a $73.00 price target (up previously from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. HC Wainwright reiterated a "buy" rating and issued a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Oppenheimer boosted their price target on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a 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 report on Tuesday, June 24th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $68.91.

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.