Revolution Medicines, Inc. $RVMD Shares Acquired by Baker BROS. Advisors LP

Baker BROS. Advisors LP lifted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,455,357 shares of the company’s stock after buying an additional 90,385 shares during the period. Revolution Medicines comprises 3.2% of Baker BROS. Advisors LP’s portfolio, making the stock its 8th biggest holding. Baker BROS. Advisors LP owned approximately 4.89% of Revolution Medicines worth $441,565,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in Revolution Medicines by 7.7% during the third quarter. California Public Employees Retirement System now owns 230,974 shares of the company’s stock valued at $10,786,000 after acquiring an additional 16,544 shares during the period. Bank of America Corp DE grew its holdings in shares of Revolution Medicines by 30.7% during the 3rd quarter. Bank of America Corp DE now owns 753,867 shares of the company’s stock worth $35,206,000 after purchasing an additional 177,184 shares in the last quarter. Algert Global LLC increased its position in shares of Revolution Medicines by 141.1% during the third quarter. Algert Global LLC now owns 166,315 shares of the company’s stock valued at $7,767,000 after purchasing an additional 97,332 shares during the period. Alliancebernstein L.P. increased its position in shares of Revolution Medicines by 3.5% during the third quarter. Alliancebernstein L.P. now owns 62,131 shares of the company’s stock valued at $2,902,000 after purchasing an additional 2,125 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Revolution Medicines by 165.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 34,575 shares of the company’s stock valued at $1,615,000 after purchasing an additional 21,552 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $94.86 on Friday. The firm has a market capitalization of $18.80 billion, a P/E ratio of -16.05 and a beta of 0.99. The stock has a fifty day moving average price of $102.88 and a two-hundred day moving average price of $74.97. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $124.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.14 and a quick ratio of 7.14.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same quarter in the prior year, the business posted ($1.12) EPS. As a group, analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analysts Set New Price Targets

RVMD has been the subject of several research reports. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Evercore upgraded shares of Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, February 25th. UBS Group started coverage on shares of Revolution Medicines in a report on Friday, February 27th. They set a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Finally, Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $78.94.

Insider Activity

In other news, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $98.00, for a total value of $980,000.00. Following the transaction, the chief financial officer directly owned 108,065 shares of the company’s stock, valued at $10,590,370. The trade was a 8.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Margaret A. Horn sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $100.56, for a total value of $7,542,000.00. Following the sale, the chief operating officer owned 141,053 shares in the company, valued at approximately $14,184,289.68. This trade represents a 34.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 149,792 shares of company stock valued at $14,379,040. Company insiders own 8.20% of the company’s stock.

Revolution Medicines 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.