Geode Capital Management LLC Acquires 16,323 Shares of Revolution Medicines, Inc. $RVMD

Geode Capital Management LLC boosted its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 0.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,161,963 shares of the company’s stock after acquiring an additional 16,323 shares during the quarter. Geode Capital Management LLC’s holdings in Revolution Medicines were worth $251,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RVMD. General Atlantic L.P. bought a new stake in Revolution Medicines during the 3rd quarter worth approximately $115,556,000. UBS Group AG raised its stake in Revolution Medicines by 183.6% during the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock worth $245,954,000 after acquiring an additional 1,998,972 shares during the period. Nextech Invest Ltd. raised its stake in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the period. Vestal Point Capital LP bought a new stake in Revolution Medicines during the 2nd quarter worth approximately $44,148,000. Finally, Jefferies Financial Group Inc. raised its stake in Revolution Medicines by 8,678.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,141,195 shares of the company’s stock worth $90,896,000 after acquiring an additional 1,128,195 shares during the period. Institutional investors own 94.34% of the company’s stock.

Insider Transactions at Revolution Medicines

In related news, CFO Jack Anders sold 2,753 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $273,868.44. Following the completion of the transaction, the chief financial officer directly owned 125,512 shares of the company’s stock, valued at approximately $12,485,933.76. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,302 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $427,962.96. Following the completion of the transaction, the insider directly owned 295,398 shares of the company’s stock, valued at approximately $29,386,193.04. This trade represents a 1.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 148,592 shares of company stock valued at $20,855,132 in the last 90 days. Company insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Down 7.6%

Shares of RVMD opened at $151.31 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $166.50. The company has a 50 day simple moving average of $130.74 and a two-hundred day simple moving average of $105.50. The firm has a market cap of $32.17 billion, a P/E ratio of -21.40 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the firm earned ($1.13) EPS. On average, equities analysts expect that Revolution Medicines, Inc. will post -7.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on RVMD. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. HC Wainwright increased their price objective on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a report on Monday. Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a report on Monday. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective for the company. Finally, Oppenheimer increased their price objective on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and a consensus price target of $123.72.

Revolution Medicines Company Profile

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.