Revolution Medicines, Inc. $RVMD Holdings Increased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 70.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,695 shares of the company’s stock after purchasing an additional 3,171 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Revolution Medicines were worth $283,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. S&CO Inc. grew its position in Revolution Medicines by 54.5% in the second quarter. S&CO Inc. now owns 14,171 shares of the company’s stock worth $521,000 after buying an additional 5,000 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Revolution Medicines in the 2nd quarter valued at about $3,639,000. Harbor Capital Advisors Inc. lifted its position in Revolution Medicines by 64.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock worth $2,146,000 after buying an additional 22,906 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Revolution Medicines during the first quarter valued at $502,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Revolution Medicines by 6.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company’s stock valued at $3,870,000 after buying an additional 6,877 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Price Performance

Shares of RVMD opened at $77.58 on Thursday. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $78.17. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16. The stock has a market cap of $15.00 billion, a P/E ratio of -15.01 and a beta of 1.25. The stock’s 50-day moving average price is $55.76 and its two-hundred day moving average price is $44.72.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same period in the prior year, the business posted ($0.94) EPS. On average, equities analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Activity at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 100,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 289,414 shares in the company, valued at approximately $12,757,369.12. This trade represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark A. Goldsmith sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $60.31, for a total transaction of $1,809,300.00. Following the transaction, the insider directly owned 347,863 shares of the company’s stock, valued at $20,979,617.53. This represents a 7.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 258,033 shares of company stock worth $12,974,508. Corporate insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RVMD shares. Mizuho started coverage on shares of Revolution Medicines in a report on Tuesday, October 21st. They issued an “outperform” rating and a $90.00 price objective for the company. Lifesci Capital initiated coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They issued an “outperform” rating and a $80.00 price target on the stock. Piper Sandler initiated coverage on Revolution Medicines in a research note on Monday, August 18th. They issued an “overweight” rating and a $75.00 target price for the company. Stifel Nicolaus started coverage on Revolution Medicines in a report on Wednesday, October 15th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, Wolfe Research initiated coverage on shares of Revolution Medicines in a report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $78.50.

About Revolution Medicines

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.