Revolution Medicines, Inc. (NASDAQ:RVMD) Stake Decreased by Finepoint Capital LP

Finepoint Capital LP lessened its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 710,260 shares of the company’s stock after selling 21,700 shares during the period. Revolution Medicines makes up approximately 1.9% of Finepoint Capital LP’s portfolio, making the stock its 5th biggest holding. Finepoint Capital LP owned 0.42% of Revolution Medicines worth $31,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RVMD. Captrust Financial Advisors increased its holdings in Revolution Medicines by 4.1% in the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after buying an additional 337 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Revolution Medicines during the third quarter worth $645,000. Point72 DIFC Ltd purchased a new stake in Revolution Medicines during the third quarter worth $422,000. Quarry LP purchased a new position in shares of Revolution Medicines in the third quarter valued at $82,000. Finally, State Street Corp increased its position in shares of Revolution Medicines by 4.1% in the third quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after buying an additional 208,516 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Transactions at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following 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 legal filing with the SEC, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 11,738 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the sale, the insider now owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. This represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,660 shares of company stock worth $650,406. 8.00% of the stock is currently owned by company insiders.

Revolution Medicines Stock Down 4.7 %

Shares of NASDAQ RVMD opened at $31.32 on Friday. The stock has a market capitalization of $5.82 billion, a PE ratio of -8.72 and a beta of 1.37. The firm has a fifty day moving average of $39.61 and a 200-day moving average of $45.25. Revolution Medicines, Inc. has a 52-week low of $30.94 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly 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). Equities research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Revolution Medicines

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.