Voya Investment Management LLC Raises Position in Revolution Medicines, Inc. $RVMD

Voya Investment Management LLC grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 319,491 shares of the company’s stock after purchasing an additional 3,463 shares during the period. Voya Investment Management LLC owned approximately 0.17% of Revolution Medicines worth $11,297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of Revolution Medicines by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 12,792 shares of the company’s stock valued at $452,000 after purchasing an additional 259 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Revolution Medicines by 11.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company’s stock worth $232,000 after acquiring an additional 615 shares during the last quarter. GF Fund Management CO. LTD. raised 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 worth $152,000 after acquiring an additional 775 shares during the last quarter. Xponance Inc. raised its stake in Revolution Medicines by 6.7% in the 1st quarter. Xponance Inc. now owns 12,937 shares of the company’s stock worth $457,000 after acquiring an additional 810 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in Revolution Medicines by 17.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,055 shares of the company’s stock worth $265,000 after acquiring an additional 885 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Down 3.2%

RVMD opened at $44.70 on Wednesday. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The stock has a market capitalization of $8.36 billion, a PE ratio of -9.93 and a beta of 1.12. The business’s 50 day moving average price is $38.30 and its 200 day moving average price is $38.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79.

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

Insider Buying and Selling

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 100,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.08, for a total transaction of $4,408,000.00. Following the transaction, the insider directly owned 289,414 shares in the company, valued at $12,757,369.12. This represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jack Anders sold 5,238 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total value of $210,410.46. Following the transaction, the chief financial officer owned 113,314 shares in the company, valued at $4,551,823.38. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,000 shares of company stock worth $5,958,236 over the last quarter. 8.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on RVMD. Wells Fargo & Company increased their price target on Revolution Medicines from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Piper Sandler assumed coverage on Revolution Medicines in a report on Monday, August 18th. They issued an “overweight” rating and a $75.00 price objective on the stock. Wedbush lifted their price objective on Revolution Medicines from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Raymond James Financial started coverage on Revolution Medicines in a report on Friday, September 12th. They set a “strong-buy” rating and a $72.00 target price on the stock. Finally, Guggenheim restated a “buy” rating and set a $80.00 target price on shares of Revolution Medicines in a report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $73.67.

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.