WCM Investment Management LLC Grows Stock Position in Revolution Medicines, Inc. $RVMD

Key Points

• WCM Investment Management LLC increased its stake in Revolution Medicines by 4.8%, now owning approximately 257,814 shares valued at $9.5 million.
• Several institutional investors, including Allianz and TD Asset Management, also raised their positions significantly during the second quarter, indicating strong interest in Revolution Medicines.
• Analysts have a predominantly positive outlook, with a consensus rating of "Moderate Buy" and a target price averaging around $76.14 after recent upgrades.

WCM Investment Management LLC raised its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 257,814 shares of the company's stock after purchasing an additional 11,817 shares during the period. WCM Investment Management LLC owned about 0.14% of Revolution Medicines worth $9,516,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Allianz Asset Management GmbH raised its position in shares of Revolution Medicines by 18.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 122,545 shares of the company's stock valued at $4,508,000 after purchasing an additional 18,888 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Revolution Medicines in the 2nd quarter valued at approximately $225,000. TD Asset Management Inc raised its position in shares of Revolution Medicines by 55.8% in the 2nd quarter. TD Asset Management Inc now owns 507,600 shares of the company's stock valued at $18,675,000 after purchasing an additional 181,724 shares in the last quarter. CWM LLC raised its position in shares of Revolution Medicines by 171.3% in the 2nd quarter. CWM LLC now owns 917 shares of the company's stock valued at $34,000 after purchasing an additional 579 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Revolution Medicines by 98.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,690 shares of the company's stock valued at $467,000 after purchasing an additional 6,297 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Revolution Medicines

In related news, CFO Jack Anders sold 5,238 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total transaction of $210,410.46. Following the completion of the transaction, the chief financial officer owned 113,314 shares of the company's stock, valued at $4,551,823.38. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Michael Kelsey sold 100,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.08, for a total value of $4,408,000.00. Following the transaction, the insider directly owned 289,414 shares of the company's stock, valued at $12,757,369.12. This represents a 25.68% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,033 shares of company stock valued at $8,456,208. Corporate insiders own 8.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Needham & Company LLC upped their target price on Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Stifel Nicolaus started coverage on Revolution Medicines in a research report on Wednesday. They set a "buy" rating and a $85.00 price target on the stock. Wedbush upped their price target on Revolution Medicines from $73.00 to $77.00 and gave the company an "outperform" rating in a research report on Thursday, September 11th. Guggenheim reissued a "buy" rating and set a $80.00 price target on shares of Revolution Medicines in a research report on Wednesday, June 25th. Finally, Raymond James Financial started coverage on Revolution Medicines in a research report on Friday, September 12th. They set a "strong-buy" rating and a $72.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Revolution Medicines currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.14.

Revolution Medicines Trading Up 0.2%

Shares of RVMD stock opened at $49.68 on Friday. The stock has a 50-day simple moving average of $42.01 and a 200 day simple moving average of $39.42. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The stock has a market capitalization of $9.29 billion, a P/E ratio of -11.04 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 announced its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same quarter last year, the company earned ($0.81) earnings per share. The business's quarterly revenue was up .0% compared to the same quarter last year. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share 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.

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