Woodline Partners LP Has $169.96 Million Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Woodline Partners LP grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 13.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,885,713 shares of the company's stock after buying an additional 452,000 shares during the quarter. Revolution Medicines makes up 1.1% of Woodline Partners LP's portfolio, making the stock its 5th largest position. Woodline Partners LP owned about 2.31% of Revolution Medicines worth $169,961,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RVMD. IFP Advisors Inc acquired a new position in Revolution Medicines during the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC boosted its position in Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after purchasing an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock valued at $90,000 after purchasing an additional 1,613 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Revolution Medicines during the fourth quarter valued at approximately $104,000. Finally, Daiwa Securities Group Inc. boosted its position in Revolution Medicines by 521.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock valued at $165,000 after purchasing an additional 3,178 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on RVMD shares. HC Wainwright reissued a "buy" rating and set a $72.00 price target (down from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Oppenheimer raised their price objective on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $57.00 price target on shares of Revolution Medicines in a report on Thursday, May 8th. Guggenheim dropped their price target on Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Wedbush reissued an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a report on Thursday, May 8th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Revolution Medicines presently has an average rating of "Buy" and a consensus target price of $67.08.

Insider Activity

In other news, CFO Jack Anders sold 1,864 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the transaction, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. This trade represents a 1.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the transaction, the chief operating officer now owns 153,533 shares in the company, valued at approximately $5,993,928.32. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,660 shares of company stock worth $650,406. Insiders own 8.20% of the company's stock.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $39.93 on Tuesday. The stock's fifty day moving average price is $37.50 and its two-hundred day moving average price is $42.94. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The firm has a market cap of $7.44 billion, a PE ratio of -11.12 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter in the prior year, the company posted ($0.70) earnings per share. Sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

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.

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