Fintel reports that on July 12, 2024, Barclays initiated coverage of Revolution Medicines (NasdaqGS:RVMD) with a Overweight recommendation.
Analyst Price Forecast Suggests 2.92% Upside
As of July 4, 2024, the average one-year price target for Revolution Medicines is $46.46/share. The forecasts range from a low of $40.40 to a high of $52.50. The average price target represents an increase of 2.92% from its latest reported closing price of $45.14 / share.
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The projected annual revenue for Revolution Medicines is 18MM, an increase of 299.80%. The projected annual non-GAAP EPS is -3.71.
What is the Fund Sentiment?
There are 489 funds or institutions reporting positions in Revolution Medicines. This is an increase of 22 owner(s) or 4.71% in the last quarter. Average portfolio weight of all funds dedicated to RVMD is 0.39%, an increase of 20.65%. Total shares owned by institutions increased in the last three months by 2.94% to 169,667K shares. 
The put/call ratio of RVMD is 0.86, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 14,715K shares representing 8.92% ownership of the company. In its prior filing, the firm reported owning 14,882K shares , representing a decrease of 1.14%. The firm decreased its portfolio allocation in RVMD by 84.99% over the last quarter.
Baker Bros. Advisors holds 7,549K shares representing 4.58% ownership of the company. In its prior filing, the firm reported owning 5,149K shares , representing an increase of 31.80%. The firm increased its portfolio allocation in RVMD by 81.66% over the last quarter.
Farallon Capital Management holds 7,508K shares representing 4.55% ownership of the company. In its prior filing, the firm reported owning 6,737K shares , representing an increase of 10.27%. The firm increased its portfolio allocation in RVMD by 14.41% over the last quarter.
VGHCX - Vanguard Health Care Fund Investor Shares holds 6,541K shares representing 3.96% ownership of the company. In its prior filing, the firm reported owning 6,450K shares , representing an increase of 1.39%. The firm increased its portfolio allocation in RVMD by 37.99% over the last quarter.
Nextech Invest holds 6,297K shares representing 3.82% ownership of the company. No change in the last quarter.
Revolution Medicines Background Information
(This description is provided by the company.)
Revolution Medicines is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit high-value frontier targets in RAS-addicted cancers. The company possesses sophisticated structure-based drug discovery capabilities built upon deep chemical biology and cancer pharmacology know-how and innovative, proprietary technologies that enable the creation of small molecules tailored to unconventional binding sites.
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This story originally appeared on Fintel.
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