Paradigm Biocapital Advisors LP Increases Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Paradigm Biocapital Advisors LP lifted its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 23.3% in the 4th quarter, Holdings Channel reports. The fund owned 6,553,111 shares of the company’s stock after buying an additional 1,239,022 shares during the quarter. Revolution Medicines accounts for approximately 10.0% of Paradigm Biocapital Advisors LP’s holdings, making the stock its 4th largest position. Paradigm Biocapital Advisors LP’s holdings in Revolution Medicines were worth $286,633,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RVMD. IFP Advisors Inc bought a new stake in Revolution Medicines during the 4th quarter worth approximately $34,000. Sterling Capital Management LLC raised its stake in shares of Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after acquiring an additional 1,672 shares in 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 buying an additional 1,613 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Revolution Medicines during the 4th quarter valued at about $104,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Revolution Medicines by 521.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company’s stock worth $165,000 after purchasing an additional 3,178 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 1,864 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 value of $72,770.56. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Margaret A. Horn sold 3,058 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 transaction of $119,384.32. Following the transaction, the chief operating officer now directly owns 153,533 shares of the company’s stock, valued at approximately $5,993,928.32. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,660 shares of company stock valued at $650,406. Insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the topic of several recent analyst reports. Oppenheimer lifted their price target 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. HC Wainwright boosted their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Stifel Nicolaus decreased their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Guggenheim lowered their target price on shares of Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Wedbush reiterated an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, May 8th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and an average price target of $67.17.

Revolution Medicines Stock Performance

RVMD opened at $39.95 on Wednesday. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of -11.13 and a beta of 1.11. 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 fifty day moving average of $37.42 and a 200 day moving average of $43.33.

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

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.