Paradigm Biocapital Advisors LP Grows Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Paradigm Biocapital Advisors LP boosted its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 23.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,553,111 shares of the company's stock after acquiring 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 holding. Paradigm Biocapital Advisors LP owned approximately 3.90% of Revolution Medicines worth $286,633,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock worth $747,799,000 after acquiring an additional 2,185,082 shares in the last quarter. Farallon Capital Management LLC grew its stake in shares of Revolution Medicines by 17.1% in the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after acquiring an additional 1,931,000 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Revolution Medicines by 54.5% in the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock valued at $414,777,000 after acquiring an additional 3,346,755 shares in the last quarter. Baker BROS. Advisors LP grew its stake in shares of Revolution Medicines by 4.9% in the fourth quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock valued at $347,163,000 after acquiring an additional 367,882 shares in the last quarter. Finally, Nextech Invest Ltd. grew its stake in shares of Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after acquiring an additional 1,304,347 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RVMD shares. Stifel Nicolaus decreased 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 note on Tuesday, April 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a research report on Thursday, May 8th. Oppenheimer raised their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wedbush restated an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, May 8th. Finally, Guggenheim reduced their target price on Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $67.08.

Revolution Medicines Stock Up 0.2%

RVMD traded up $0.08 during trading on Monday, hitting $39.62. 325,478 shares of the company traded hands, compared to its average volume of 1,493,933. The firm has a market cap of $7.38 billion, a P/E ratio of -11.05 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 stock's fifty day moving average is $37.49 and its 200 day moving average is $43.05.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same period in the previous year, the firm earned ($0.70) EPS. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 11,738 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the transaction, the insider now directly owns 441,564 shares in the company, valued at approximately $17,238,658.56. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jack Anders sold 1,864 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the transaction, the chief financial officer now directly owns 115,006 shares in the company, valued at $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. Over the last ninety days, insiders have sold 16,660 shares of company stock valued at $650,406. 8.20% of the stock is currently owned by corporate insiders.

Revolution Medicines 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.