Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by MPM Bioimpact LLC

MPM Bioimpact LLC boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,817 shares of the company's stock after buying an additional 22,426 shares during the quarter. Revolution Medicines makes up 1.9% of MPM Bioimpact LLC's portfolio, 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 filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RVMD. Boxer Capital Management LLC purchased a new stake in Revolution Medicines in the fourth quarter worth about $187,184,000. Janus Henderson Group PLC grew its position in shares of 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 buying an additional 3,346,755 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Revolution Medicines by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock worth $747,799,000 after buying an additional 2,185,082 shares during the last quarter. Farallon Capital Management LLC grew its position in shares of Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock worth $579,498,000 after buying an additional 1,931,000 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Revolution Medicines in the 4th quarter worth approximately $76,197,000. Institutional investors own 94.34% of the company's stock.

Insiders Place Their Bets

In other Revolution Medicines 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 sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at $5,993,928.32. The trade was a 1.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value 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 represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,660 shares of company stock worth $650,406. Company insiders own 8.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wedbush reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $57.00 price objective on shares of Revolution Medicines in a research report on Thursday, May 8th. Guggenheim cut their price objective 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. Oppenheimer upped their price objective on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, HC Wainwright restated a "buy" rating and set a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $67.08.

Revolution Medicines Stock Performance

Revolution Medicines stock traded up $0.08 during trading on Monday, reaching $39.62. The company had a trading volume of 325,478 shares, compared to its average volume of 1,493,933. The firm's 50-day simple moving average is $37.49 and its 200 day simple moving average is $43.05. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The firm has a market capitalization of $7.38 billion, a PE ratio of -11.05 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data 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 period in the prior year, the business posted ($0.70) EPS. Analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current 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.