Revolution Medicines, Inc. $RVMD is Checkpoint Capital L.P.'s 3rd Largest Position

Key Points

• Checkpoint Capital L.P. increased its stake in Revolution Medicines, Inc. by 86.7%, making it the company's third-largest holding at approximately 7.6% of its portfolio.
• Analysts are bullish on Revolution Medicines, with a consensus Buy rating and a price target of $69.92, reflecting positive sentiment from multiple financial institutions.
• Revolution Medicines recently reported an EPS of ($1.31), missing expectations, while revenue showed a slight increase compared to the previous year.

Checkpoint Capital L.P. increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 86.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 392,011 shares of the company's stock after purchasing an additional 182,011 shares during the quarter. Revolution Medicines makes up approximately 7.6% of Checkpoint Capital L.P.'s holdings, making the stock its 3rd largest holding. Checkpoint Capital L.P. owned 0.21% of Revolution Medicines worth $13,862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RVMD. Banque Transatlantique SA acquired a new stake in Revolution Medicines in the 1st quarter worth about $42,000. Quarry LP acquired a new stake in Revolution Medicines in the 1st quarter worth about $50,000. Twin Tree Management LP acquired a new stake in Revolution Medicines in the 1st quarter worth about $58,000. GF Fund Management CO. LTD. acquired a new stake in Revolution Medicines in the 4th quarter worth about $154,000. Finally, Goodman Advisory Group LLC acquired a new stake in Revolution Medicines in the 1st quarter worth about $127,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on RVMD shares. Wedbush reissued an "outperform" rating and issued a $73.00 price target (up from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Oppenheimer raised their price target on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Lifesci Capital started coverage on Revolution Medicines in a research note on Monday, August 18th. They issued an "outperform" rating and a $80.00 price target on the stock. Piper Sandler started coverage on Revolution Medicines in a research note on Monday, August 18th. They issued an "overweight" rating and a $75.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on Revolution Medicines in a research note on Tuesday, July 15th. They issued a "buy" rating and a $65.00 price objective on the stock. Thirteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $69.92.

Revolution Medicines Stock Up 0.6%

Shares of NASDAQ RVMD opened at $39.77 on Thursday. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $62.40. The company has a market cap of $7.43 billion, a P/E ratio of -8.84 and a beta of 1.12. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $37.23 and a 200 day moving average price of $38.16.

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

Revolution Medicines Company Profile

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.

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