Revolution Medicines, Inc. $RVMD Shares Sold by Paradigm Biocapital Advisors LP

Key Points

• Paradigm Biocapital Advisors LP sold 375,000 shares of Revolution Medicines, resulting in a 5.7% reduction of its holdings.
• Institutional ownership of Revolution Medicines is high, with about 94.34% of the stock held by hedge funds and institutional investors.
• Analysts maintain a generally positive outlook on Revolution Medicines, with an average "buy" rating and a consensus price target of $69.92.

Paradigm Biocapital Advisors LP lessened its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,178,111 shares of the company's stock after selling 375,000 shares during the period. Revolution Medicines comprises 10.3% of Paradigm Biocapital Advisors LP's holdings, making the stock its 3rd largest holding. Paradigm Biocapital Advisors LP owned 3.32% of Revolution Medicines worth $218,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RVMD. Farallon Capital Management LLC grew its holdings in Revolution Medicines by 17.1% in the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock worth $579,498,000 after purchasing an additional 1,931,000 shares during the period. Wellington Management Group LLP raised its holdings in Revolution Medicines by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company's stock valued at $416,821,000 after buying an additional 966,230 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Revolution Medicines by 54.5% in the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock worth $414,777,000 after purchasing an additional 3,346,755 shares in the last quarter. Baker BROS. Advisors LP boosted its holdings in shares of Revolution Medicines by 4.9% during the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock valued at $347,163,000 after acquiring an additional 367,882 shares during the last quarter. Finally, Nextech Invest Ltd. raised its stake in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the period. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Trading Up 0.6%

Shares of RVMD stock traded up $0.24 during mid-day trading on Wednesday, reaching $39.77. The stock had a trading volume of 1,794,176 shares, compared to its average volume of 2,016,681. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79. The stock's 50-day moving average price is $37.20 and its two-hundred day moving average price is $38.15.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.37). The firm's revenue was up .0% compared to the same quarter last year. During the same period last year, the company posted ($0.81) EPS. Equities research analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

RVMD has been the subject of a number of research reports. Oppenheimer upped their price objective on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wells Fargo & Company began coverage on Revolution Medicines in a report on Friday, August 15th. They set an "overweight" rating and a $67.00 price objective on the stock. Guggenheim reiterated a "buy" rating and issued a $80.00 target price on shares of Revolution Medicines in a research note on Wednesday, June 25th. The Goldman Sachs Group initiated coverage on Revolution Medicines in a research report on Tuesday, July 15th. They issued a "buy" rating and a $65.00 target price on the stock. Finally, Wedbush reaffirmed an "outperform" rating and issued a $73.00 price target (up previously from $67.00) on shares of Revolution Medicines in a research report on Tuesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $69.92.

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.