Revolution Medicines, Inc. $RVMD is General Atlantic L.P.’s 6th Largest Position

General Atlantic L.P. increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,812,928 shares of the company’s stock after purchasing an additional 338,500 shares during the quarter. Revolution Medicines makes up approximately 7.8% of General Atlantic L.P.’s holdings, making the stock its 6th largest holding. General Atlantic L.P.’s holdings in Revolution Medicines were worth $224,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RVMD. Nextech Invest Ltd. grew its holdings in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares during the period. Millennium Management LLC grew its holdings in Revolution Medicines by 681.8% in the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock valued at $5,529,000 after buying an additional 136,353 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Revolution Medicines by 14.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after buying an additional 37,345 shares during the period. Invesco Ltd. grew its holdings in Revolution Medicines by 19.3% in the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after buying an additional 36,760 shares during the period. Finally, Jump Financial LLC grew its holdings in Revolution Medicines by 87.9% in the 2nd quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after buying an additional 7,137 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on RVMD shares. Sanford C. Bernstein started coverage on Revolution Medicines in a report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target for the company. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Benchmark restated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Evercore restated an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Finally, HC Wainwright lifted their price target on Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $123.72.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $156.58 on Wednesday. The firm has a market capitalization of $33.29 billion, a P/E ratio of -22.15 and a beta of 1.40. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $166.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The business’s 50-day simple moving average is $143.13 and its 200-day simple moving average is $111.82.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business earned ($1.13) earnings per share. Equities analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total value of $18,010,800.00. Following the transaction, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. The trade was a 30.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.60% of the stock is owned by corporate insiders.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.