Revolution Medicines, Inc. (NASDAQ:RVMD) is Paradigm Biocapital Advisors LP’s 4th Largest Position

Paradigm Biocapital Advisors LP increased its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 23.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,553,111 shares of the company’s stock after purchasing an additional 1,239,022 shares during the period. Revolution Medicines comprises about 10.0% of Paradigm Biocapital Advisors LP’s investment portfolio, making the stock its 4th biggest holding. Paradigm Biocapital Advisors LP owned 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. CIBC Asset Management Inc lifted its position in shares of Revolution Medicines by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock worth $220,000 after purchasing an additional 270 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Revolution Medicines by 11.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock valued at $186,000 after buying an additional 434 shares during the period. Amalgamated Bank lifted its position in Revolution Medicines by 8.3% in the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company’s stock worth $250,000 after buying an additional 435 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Revolution Medicines by 5.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company’s stock worth $498,000 after buying an additional 545 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Revolution Medicines by 2.0% during the 4th quarter. Arizona State Retirement System now owns 33,905 shares of the company’s stock valued at $1,483,000 after buying an additional 650 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Revolution Medicines news, 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jack Anders sold 1,864 shares of the company’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 sale, the chief financial officer now owns 115,006 shares of the company’s stock, valued at $4,489,834.24. This trade represents a 1.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,660 shares of company stock valued at $650,406. 8.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RVMD shares. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. 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 report on Thursday, May 8th. Wedbush reissued an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, May 8th. Finally, Oppenheimer increased their price target on Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $67.17.

Revolution Medicines Stock Down 4.6%

NASDAQ RVMD opened at $39.95 on Wednesday. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $62.40. The firm has a 50-day moving average price of $37.42 and a two-hundred day moving average price of $43.33. The company has a market capitalization of $7.44 billion, a P/E ratio of -11.13 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter last year, the business posted ($0.70) EPS. Equities analysts expect 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.