MPM Bioimpact LLC Purchases 22,426 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

MPM Bioimpact LLC lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 313,817 shares of the company's stock after purchasing an additional 22,426 shares during the quarter. Revolution Medicines accounts for 1.9% of MPM Bioimpact LLC's holdings, making the stock its 20th largest position. MPM Bioimpact LLC owned 0.19% of Revolution Medicines worth $13,726,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Paradigm Biocapital Advisors LP increased its holdings in shares of Revolution Medicines by 23.3% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,553,111 shares of the company's stock worth $286,633,000 after purchasing an additional 1,239,022 shares during the period. Man Group plc increased its holdings in shares of Revolution Medicines by 25.6% during the fourth quarter. Man Group plc now owns 321,673 shares of the company's stock worth $14,070,000 after purchasing an additional 65,567 shares during the period. Nextech Invest Ltd. increased its holdings in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the period. Nicholas Investment Partners LP increased its holdings in shares of Revolution Medicines by 36.0% during the fourth quarter. Nicholas Investment Partners LP now owns 84,729 shares of the company's stock worth $3,706,000 after purchasing an additional 22,429 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in shares of Revolution Medicines by 3.1% during the fourth quarter. Nuveen Asset Management LLC now owns 473,728 shares of the company's stock worth $20,721,000 after purchasing an additional 14,391 shares during the period. 94.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Stifel Nicolaus reduced their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Needham & Company LLC reiterated a "buy" rating and set a $57.00 price target on shares of Revolution Medicines in a research report on Thursday, May 8th. Guggenheim reduced their price target on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $67.08.

Revolution Medicines Trading Up 0.3%

Revolution Medicines stock traded up $0.10 during mid-day trading on Friday, reaching $39.54. The company had a trading volume of 2,061,263 shares, compared to its average volume of 1,497,050. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The company has a market cap of $7.37 billion, a P/E ratio of -11.01 and a beta of 1.11. The business has a fifty day simple moving average of $37.49 and a 200 day simple moving average of $43.17.

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

Insider Buying and Selling at Revolution Medicines

In other news, 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 transaction of $119,384.32. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark A. Goldsmith sold 11,738 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 transaction of $458,251.52. Following the transaction, the insider now owns 441,564 shares in the company, valued at approximately $17,238,658.56. This trade represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock worth $650,406 over the last quarter. Corporate insiders own 8.20% of the company's stock.

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.