Finepoint Capital LP Increases Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Finepoint Capital LP lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 731,960 shares of the company’s stock after buying an additional 2,496 shares during the quarter. Revolution Medicines makes up approximately 2.4% of Finepoint Capital LP’s portfolio, making the stock its 3rd biggest holding. Finepoint Capital LP’s holdings in Revolution Medicines were worth $33,194,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RVMD. Sei Investments Co. purchased a new stake in shares of Revolution Medicines in the first quarter worth $528,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Revolution Medicines by 74.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,646 shares of the company’s stock valued at $504,000 after acquiring an additional 6,696 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Revolution Medicines by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,814,310 shares of the company’s stock valued at $155,166,000 after acquiring an additional 177,957 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Revolution Medicines during the 1st quarter valued at about $338,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Revolution Medicines by 77.9% during the first quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock worth $126,067,000 after purchasing an additional 1,712,639 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Mark A. Goldsmith sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.36, for a total value of $1,510,800.00. Following the sale, the insider now directly owns 300,170 shares of the company’s stock, valued at $15,116,561.20. This trade represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 50,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.34, for a total value of $2,517,000.00. Following the completion of the sale, the chief operating officer now owns 132,320 shares in the company, valued at approximately $6,660,988.80. This represents a 27.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RVMD. Needham & Company LLC raised their target price on shares of Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays raised their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. HC Wainwright upped their target price on shares of Revolution Medicines from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Oppenheimer increased their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Guggenheim lifted their price target on Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $61.00.

Revolution Medicines Trading Up 1.3 %

Shares of NASDAQ:RVMD opened at $57.50 on Tuesday. The stock has a market capitalization of $9.67 billion, a P/E ratio of -16.02 and a beta of 1.40. The stock’s 50-day moving average price is $50.80 and its 200-day moving average price is $44.77. Revolution Medicines, Inc. has a 12-month low of $20.98 and a 12-month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the prior year, the firm posted ($0.99) earnings per share. As a group, research analysts predict that Revolution Medicines, Inc. will post -3.51 EPS for the current year.

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.