Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Sold by Finepoint Capital LP

Finepoint Capital LP trimmed its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 710,260 shares of the company’s stock after selling 21,700 shares during the period. Revolution Medicines comprises approximately 1.9% of Finepoint Capital LP’s holdings, making the stock its 5th largest holding. Finepoint Capital LP’s holdings in Revolution Medicines were worth $31,067,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in Revolution Medicines in the third quarter valued at about $801,000. State Street Corp increased its holdings in shares of Revolution Medicines by 4.1% in the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after acquiring an additional 208,516 shares during the last quarter. Barclays PLC raised its position in shares of Revolution Medicines by 187.1% during the 3rd quarter. Barclays PLC now owns 294,664 shares of the company’s stock valued at $13,362,000 after acquiring an additional 192,021 shares in the last quarter. Geode Capital Management LLC lifted its stake in Revolution Medicines by 8.7% during the third quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company’s stock worth $164,517,000 after purchasing an additional 291,369 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Revolution Medicines by 92.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company’s stock worth $2,711,000 after purchasing an additional 29,853 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Wedbush reiterated an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, February 27th. Needham & Company LLC reduced their price objective on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. HC Wainwright increased their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, UBS Group upped their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Revolution Medicines has an average rating of “Buy” and an average price target of $65.23.

Insider Transactions at Revolution Medicines

In other news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the transaction, the chief operating officer now directly owns 153,533 shares of the company’s stock, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jack Anders sold 1,864 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 115,006 shares of the company’s stock, valued at $4,489,834.24. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock valued at $650,406 in the last quarter. Insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $31.32 on Friday. Revolution Medicines, Inc. has a 1 year low of $30.94 and a 1 year high of $62.40. The firm has a market cap of $5.82 billion, a P/E ratio of -8.72 and a beta of 1.37. The stock has a fifty day moving average price of $39.61 and a two-hundred day moving average price of $45.25.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). On average, research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal 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.