PNC Financial Services Group Inc. Buys 3,518 Shares of Revolution Medicines, Inc. $RVMD

PNC Financial Services Group Inc. lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 349.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,524 shares of the company’s stock after acquiring an additional 3,518 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Revolution Medicines were worth $160,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RVMD. Wells Fargo & Company MN boosted its holdings in Revolution Medicines by 51.8% during the fourth quarter. Wells Fargo & Company MN now owns 88,327 shares of the company’s stock worth $3,863,000 after purchasing an additional 30,155 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Revolution Medicines by 21.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 11,425 shares of the company’s stock worth $500,000 after buying an additional 2,041 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Revolution Medicines by 11.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock valued at $186,000 after acquiring an additional 434 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Revolution Medicines during the fourth quarter valued at approximately $250,000. Finally, Raymond James Financial Inc. bought a new stake in Revolution Medicines during the fourth quarter worth $14,067,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Up 0.4%

RVMD opened at $36.45 on Tuesday. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The company has a market cap of $6.81 billion, a PE ratio of -8.10 and a beta of 1.16. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $37.84 and a 200 day moving average of $38.49.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.37). Revolution Medicines’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.81) earnings per share. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Needham & Company LLC reduced their price target on shares of Revolution Medicines from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. The Goldman Sachs Group started coverage on shares of Revolution Medicines in a report on Tuesday, July 15th. They set a “buy” rating and a $65.00 price objective for the company. Lifesci Capital started coverage on shares of Revolution Medicines in a research note on Monday. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, Piper Sandler began coverage on shares of Revolution Medicines in a research report on Monday. They set an “overweight” rating for the company. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and a consensus price target of $69.54.

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.