TD Asset Management Inc Buys 181,724 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• TD Asset Management Inc increased its holdings in Revolution Medicines by 55.8% in Q2, now owning a total of 507,600 shares valued at $18.68 million.
• Revolution Medicines reported a loss of ($1.31) earnings per share for the last quarter, missing expectations by ($0.37), while revenue showed minimal year-over-year growth.
• Insiders have sold a total of 188,033 shares of Revolution Medicines worth over $8.45 million in the last quarter, indicating potential concerns about the company's stock performance.

TD Asset Management Inc grew its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 55.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 507,600 shares of the company's stock after acquiring an additional 181,724 shares during the period. TD Asset Management Inc owned 0.27% of Revolution Medicines worth $18,675,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of RVMD. CWM LLC increased its holdings in Revolution Medicines by 171.3% in the 2nd quarter. CWM LLC now owns 917 shares of the company's stock worth $34,000 after purchasing an additional 579 shares in the last quarter. Banque Transatlantique SA acquired a new position in shares of Revolution Medicines in the first quarter valued at approximately $42,000. Quarry LP acquired a new position in shares of Revolution Medicines in the first quarter valued at approximately $50,000. Twin Tree Management LP bought a new position in Revolution Medicines in the 1st quarter valued at approximately $58,000. Finally, Goodman Advisory Group LLC acquired a new stake in Revolution Medicines during the 1st quarter worth approximately $127,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Trading Up 8.9%

RVMD opened at $54.10 on Friday. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The company has a fifty day moving average of $42.40 and a 200-day moving average of $39.56. The stock has a market cap of $10.11 billion, a PE ratio of -12.02 and a beta of 1.27. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same quarter last year, the business posted ($0.81) EPS. The company's revenue was up .0% on a year-over-year basis. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 25,000 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $48.54, for a total transaction of $1,213,500.00. Following the transaction, the insider directly owned 284,047 shares in the company, valued at approximately $13,787,641.38. This represents a 8.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark A. Goldsmith sold 13,411 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $614,492.02. Following the completion of the sale, the insider owned 452,309 shares of the company's stock, valued at $20,724,798.38. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,033 shares of company stock worth $8,456,208 over the last quarter. 8.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RVMD has been the subject of several analyst reports. Guggenheim reaffirmed a "buy" rating and set a $80.00 price target on shares of Revolution Medicines in a research note on Wednesday, June 25th. Wedbush reaffirmed an "outperform" rating and set a $77.00 target price on shares of Revolution Medicines in a research report on Friday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Revolution Medicines in a report on Wednesday, October 8th. Wells Fargo & Company increased their price target on Revolution Medicines from $67.00 to $70.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Finally, Needham & Company LLC raised their price objective on Revolution Medicines from $56.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Revolution Medicines has a consensus rating of "Moderate Buy" and a consensus price target of $76.67.

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.

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