Jennison Associates LLC Takes $24.31 Million Position in Revolution Medicines, Inc. $RVMD

Key Points

• Jennison Associates opened a new position in Revolution Medicines in Q4, buying 305,260 shares worth about $24.31 million, equal to roughly 0.16% of the company.
• Company insiders have been selling recently—totaling 184,592 shares (~$24.5 million) last quarter, including Mark A. Goldsmith's sale of 120,000 shares at an average of $150.09—though insiders still own 8.20% of the stock.
• Institutional ownership is very high (~94.34%) with large holders like Vanguard and Farallon increasing stakes, while RVMD reported a Q4 EPS miss, trades around $139.48 (market cap ≈ $29.65B), and carries a consensus analyst rating of Buy with an average price target of $78.94.

Jennison Associates LLC bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 305,260 shares of the company's stock, valued at approximately $24,314,000. Jennison Associates LLC owned about 0.16% of Revolution Medicines at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company's stock valued at $1,331,739,000 after purchasing an additional 1,056,792 shares during the last quarter. Farallon Capital Management LLC increased its position in shares of Revolution Medicines by 2.1% during the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company's stock valued at $683,020,000 after purchasing an additional 300,000 shares during the last quarter. Baker BROS. Advisors LP increased its position in shares of Revolution Medicines by 1.0% during the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company's stock valued at $441,565,000 after purchasing an additional 90,385 shares during the last quarter. Nextech Invest Ltd. increased its position in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP increased its position in shares of Revolution Medicines by 2.1% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company's stock valued at $290,628,000 after purchasing an additional 130,000 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Revolution Medicines news, insider Mark A. Goldsmith sold 120,000 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the transaction, the insider owned 276,698 shares in the company, valued at $41,529,602.82. This trade represents a 30.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack Anders sold 2,753 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $273,868.44. Following the completion of the transaction, the chief financial officer owned 125,512 shares of the company's stock, valued at approximately $12,485,933.76. This represents a 2.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 184,592 shares of company stock worth $24,499,532 over the last quarter. Insiders own 8.20% of the company's stock.

Revolution Medicines Trading Down 3.2%

Shares of RVMD opened at $139.48 on Friday. The business has a 50-day moving average of $110.80 and a 200 day moving average of $91.79. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $155.70. The firm has a market cap of $29.65 billion, a P/E ratio of -23.60 and a beta of 1.41. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period last year, the company posted ($1.12) earnings per share. As a group, research analysts forecast that Revolution Medicines, Inc. will post -7.42 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RVMD shares. Stifel Nicolaus reissued a "buy" rating on shares of Revolution Medicines in a report on Monday, April 20th. Wedbush reissued an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. UBS Group started coverage on Revolution Medicines in a report on Friday, February 27th. They issued a "buy" rating for the company. HC Wainwright reissued a "buy" rating on shares of Revolution Medicines in a report on Wednesday, April 22nd. Finally, Benchmark reissued an "overweight" rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $78.94.

Revolution Medicines Company 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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