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

Finepoint Capital LP increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 0.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 731,960 shares of the company’s stock after buying an additional 2,496 shares during the period. Revolution Medicines accounts for 2.4% of Finepoint Capital LP’s holdings, making the stock its 3rd biggest holding. Finepoint Capital LP owned about 0.44% of Revolution Medicines worth $33,194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 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 worth $155,166,000 after purchasing an additional 177,957 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Revolution Medicines by 1,109.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 38,589 shares of the company’s stock worth $1,750,000 after purchasing an additional 35,399 shares during the period. Raymond James & Associates raised its position in shares of Revolution Medicines by 156.2% during the third quarter. Raymond James & Associates now owns 190,505 shares of the company’s stock worth $8,639,000 after purchasing an additional 116,135 shares during the period. Sei Investments Co. bought a new position in shares of Revolution Medicines in the 1st quarter worth $528,000. Finally, Rhumbline Advisers grew its position in Revolution Medicines by 9.2% in the 2nd quarter. Rhumbline Advisers now owns 228,567 shares of the company’s stock valued at $8,871,000 after purchasing an additional 19,257 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RVMD. Piper Sandler upped their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Barclays upped their target price on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. HC Wainwright raised their price target on shares of Revolution Medicines from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Guggenheim boosted their price objective on Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Needham & Company LLC raised their target price on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $61.00.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the transaction, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barbara Weber sold 5,200 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the sale, the director now directly owns 13,065 shares in the company, valued at $627,381.30. The trade was a 28.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,866 shares of company stock valued at $6,355,624. Company insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Up 1.3 %

RVMD stock opened at $57.50 on Tuesday. The business has a 50 day moving average of $50.80 and a 200-day moving average of $44.77. The firm has a market cap of $9.67 billion, a PE ratio of -16.02 and a beta of 1.40. Revolution Medicines, Inc. has a 12-month low of $20.98 and a 12-month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter in the previous year, the company posted ($0.99) earnings per share. On average, research analysts expect that Revolution Medicines, Inc. will post -3.51 earnings per share for the current 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.