Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 521.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,787 shares of the company’s stock after buying an additional 3,178 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Revolution Medicines were worth $165,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RVMD. IFP Advisors Inc purchased a new stake in Revolution Medicines in the fourth quarter valued at approximately $34,000. Quarry LP purchased a new stake in Revolution Medicines in the third quarter valued at approximately $82,000. KBC Group NV lifted its stake in Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after buying an additional 368 shares during the last quarter. Avanza Fonder AB purchased a new stake in Revolution Medicines in the fourth quarter valued at approximately $173,000. Finally, Everence Capital Management Inc. purchased a new stake in Revolution Medicines in the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $39.12 on Monday. The stock has a fifty day moving average price of $41.08 and a two-hundred day moving average price of $45.88. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of -10.90 and a beta of 1.46. Revolution Medicines, Inc. has a 1 year low of $29.55 and a 1 year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC reduced their price objective on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. UBS Group upped their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Stifel Nicolaus cut their price target on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, HC Wainwright upped their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $66.31.

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.