Great West Life Assurance Co. Can raised its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 133.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,526 shares of the company’s stock after purchasing an additional 1,443 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Revolution Medicines were worth $80,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in RVMD. First Mercantile Trust Co. bought a new stake in Revolution Medicines during the 1st quarter valued at $78,000. Nisa Investment Advisors LLC increased its stake in Revolution Medicines by 64.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,470 shares of the company’s stock valued at $78,000 after purchasing an additional 970 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in Revolution Medicines during the 1st quarter valued at $134,000. Ameritas Investment Partners Inc. increased its stake in Revolution Medicines by 34.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,657 shares of the company’s stock valued at $148,000 after purchasing an additional 1,183 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Revolution Medicines during the 2nd quarter valued at $159,000. Institutional investors and hedge funds own 95.49% of the company’s stock.
Several research firms have recently issued reports on RVMD. SVB Leerink reduced their target price on shares of Revolution Medicines from $46.00 to $38.00 and set an “outperform” rating for the company in a research note on Thursday, August 12th. The Goldman Sachs Group downgraded shares of Revolution Medicines from a “buy” rating to a “neutral” rating and cut their price target for the stock from $49.00 to $27.00 in a report on Thursday, August 12th. HC Wainwright cut their price target on shares of Revolution Medicines from $55.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, August 17th. Stifel Nicolaus started coverage on shares of Revolution Medicines in a report on Wednesday, September 22nd. They issued a “hold” rating and a $34.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Revolution Medicines from a “hold” rating to a “sell” rating in a report on Tuesday, August 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.67.
Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 11th. The company reported ($0.60) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.04). The business had revenue of $8.70 million for the quarter, compared to analysts’ expectations of $10.81 million. Revolution Medicines had a negative net margin of 355.11% and a negative return on equity of 23.94%. As a group, equities research analysts expect that Revolution Medicines, Inc. will post -2.45 EPS for the current fiscal year.
About Revolution Medicines
Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.
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