Marshall Wace LLP Invests $1.11 Million in Revolution Medicines, Inc. (NASDAQ:RVMD)

Marshall Wace LLP acquired a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 35,031 shares of the company’s stock, valued at approximately $1,112,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RVMD. Carolinas Wealth Consulting LLC purchased a new position in shares of Revolution Medicines in the 2nd quarter worth about $32,000. Nisa Investment Advisors LLC boosted its holdings in shares of Revolution Medicines by 64.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,470 shares of the company’s stock worth $78,000 after purchasing an additional 970 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Revolution Medicines by 133.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 2,526 shares of the company’s stock valued at $80,000 after acquiring an additional 1,443 shares during the last quarter. FORA Capital LLC bought a new stake in shares of Revolution Medicines in the 2nd quarter valued at about $82,000. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Revolution Medicines by 34.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,657 shares of the company’s stock valued at $148,000 after acquiring an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Shares of NASDAQ:RVMD opened at $28.87 on Thursday. Revolution Medicines, Inc. has a 52-week low of $21.78 and a 52-week high of $56.18. The firm has a market capitalization of $2.13 billion, a P/E ratio of -12.18 and a beta of 1.94. The stock has a 50 day moving average price of $29.72 and a 200-day moving average price of $30.04.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, November 10th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.10). Revolution Medicines had a negative return on equity of 26.76% and a negative net margin of 587.91%. During the same period in the prior year, the business posted ($0.42) earnings per share. On average, analysts forecast that Revolution Medicines, Inc. will post -2.42 earnings per share for the current fiscal year.

RVMD has been the subject of a number of recent research reports. HC Wainwright boosted their target price on Revolution Medicines from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, November 12th. Guggenheim lowered their target price on Revolution Medicines from $52.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, August 12th. Stifel Nicolaus initiated coverage on Revolution Medicines in a research note on Wednesday, September 22nd. They issued a “hold” rating and a $34.00 target price for the company. SVB Leerink lowered their target price on Revolution Medicines from $46.00 to $38.00 and set an “outperform” rating for the company in a research note on Thursday, August 12th. Finally, The Goldman Sachs Group lowered Revolution Medicines from a “buy” rating to a “neutral” rating and lowered their price target for the company from $49.00 to $27.00 in a research report on Thursday, August 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and an average price target of $35.83.

Revolution Medicines Profile

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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Institutional Ownership by Quarter for Revolution Medicines (NASDAQ:RVMD)

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