Candriam S.C.A. Trims Stake in Revolution Medicines, Inc. $RVMD

Candriam S.C.A. lowered its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 0.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 655,134 shares of the company’s stock after selling 1,606 shares during the quarter. Candriam S.C.A. owned approximately 0.35% of Revolution Medicines worth $23,166,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RVMD. Sterling Capital Management LLC lifted its stake in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after buying an additional 1,672 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Revolution Medicines in the 4th quarter valued at approximately $104,000. Goodman Advisory Group LLC purchased a new stake in Revolution Medicines in the 1st quarter valued at approximately $127,000. GF Fund Management CO. LTD. lifted its stake in Revolution Medicines by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company’s stock valued at $152,000 after buying an additional 775 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Revolution Medicines by 349.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company’s stock valued at $160,000 after buying an additional 3,518 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Down 1.0%

Shares of Revolution Medicines stock opened at $36.16 on Thursday. The business has a 50-day moving average of $37.64 and a 200-day moving average of $38.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79. The company has a market capitalization of $6.76 billion, a PE ratio of -8.04 and a beta of 1.16. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) 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). The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.81) earnings per share. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RVMD shares. Wedbush reissued an “outperform” rating and set a $73.00 price target (up previously from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. The Goldman Sachs Group started coverage on Revolution Medicines in a research note on Tuesday, July 15th. They set a “buy” rating and a $65.00 price target on the stock. Lifesci Capital started coverage on Revolution Medicines in a research note on Monday. They set an “outperform” rating and a $80.00 price target on the stock. Needham & Company LLC reduced their price target on Revolution Medicines from $57.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Finally, Oppenheimer increased their target price on Revolution Medicines from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Thirteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $69.92.

Revolution Medicines Company 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.