15,000 Shares in Revolution Medicines, Inc. $RVMD Bought by Avidity Partners Management LP

Avidity Partners Management LP bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,000 shares of the company's stock, valued at approximately $1,459,000.

Several other large investors have also recently bought and sold shares of RVMD. Vanguard Group Inc. raised its position in Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company's stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Janus Henderson Group PLC raised its position in Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company's stock valued at $980,036,000 after purchasing an additional 947,448 shares in the last quarter. Nextech Invest Ltd. boosted its stake in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Paradigm Biocapital Advisors LP grew its holdings in shares of Revolution Medicines by 6.8% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company's stock valued at $529,227,000 after purchasing an additional 421,112 shares during the last quarter. Finally, Bellevue Group AG increased its holdings in shares of Revolution Medicines by 21.7% during the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company's stock worth $260,298,000 after buying an additional 994,538 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Stock Down 2.4%

Shares of NASDAQ:RVMD opened at $187.53 on Friday. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $194.56. The firm has a fifty day moving average of $172.57 and a 200 day moving average of $134.85. The firm has a market capitalization of $39.87 billion, a PE ratio of -26.52 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the firm posted ($1.13) EPS. As a group, research analysts anticipate that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the transaction, the insider owned 291,876 shares of the company's stock, valued at $45,567,681.12. The trade was a 1.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director directly owned 21,656 shares of the company's stock, valued at $4,071,111.44. This trade represents a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 132,497 shares of company stock valued at $21,470,486. 7.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RVMD. Needham & Company LLC raised their price objective on Revolution Medicines from $235.00 to $236.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Mizuho lifted their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, July 6th. Oppenheimer boosted their target price on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an "outperform" rating in a research report on Monday, June 1st. Guggenheim upped their target price on shares of Revolution Medicines from $205.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Finally, Royal Bank Of Canada raised their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an "outperform" rating in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $144.67.

Revolution Medicines Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company's research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.

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