Paradigm Biocapital Advisors LP Has $286.63 Million Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Paradigm Biocapital Advisors LP raised its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,553,111 shares of the company's stock after purchasing an additional 1,239,022 shares during the quarter. Revolution Medicines accounts for approximately 10.0% of Paradigm Biocapital Advisors LP's investment portfolio, making the stock its 4th biggest position. Paradigm Biocapital Advisors LP owned about 3.90% of Revolution Medicines worth $286,633,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. IFP Advisors Inc acquired a new stake in shares of Revolution Medicines in the 4th quarter valued at $34,000. Sterling Capital Management LLC boosted its holdings in shares of Revolution Medicines by 588.7% in the 4th 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 in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Revolution Medicines by 368.3% in the 4th 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 in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Revolution Medicines in the 4th quarter valued at $104,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Revolution Medicines by 521.8% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Insider Buying and Selling

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

Revolution Medicines Trading Up 0.3%

NASDAQ:RVMD traded up $0.10 during trading hours on Friday, hitting $39.54. 2,061,263 shares of the company were exchanged, compared to its average volume of 1,497,050. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of -11.01 and a beta of 1.11. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The company 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 announced its 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 period last year, the company earned ($0.70) earnings per share. Equities research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RVMD shares. Needham & Company LLC reissued a "buy" rating and set a $57.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. Guggenheim cut their price objective on Revolution Medicines from $87.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Stifel Nicolaus cut their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. HC Wainwright reissued 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. Finally, Wedbush reissued an "outperform" rating and set a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Revolution Medicines currently has an average rating of "Buy" and an average target price of $67.08.

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.