Decheng Capital LLC Has $9.89 Million Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Decheng Capital LLC boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 11,200.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 226,000 shares of the company's stock after buying an additional 224,000 shares during the period. Revolution Medicines makes up approximately 2.1% of Decheng Capital LLC's holdings, making the stock its 8th biggest holding. Decheng Capital LLC owned 0.13% of Revolution Medicines worth $9,885,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Revolution Medicines by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock worth $747,799,000 after buying an additional 2,185,082 shares during the period. FMR LLC raised its holdings in Revolution Medicines by 14.7% during the 4th quarter. FMR LLC now owns 6,742,083 shares of the company's stock worth $294,899,000 after buying an additional 866,190 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Revolution Medicines by 10.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,865,962 shares of the company's stock worth $256,578,000 after buying an additional 552,657 shares during the period. Geode Capital Management LLC raised its holdings in Revolution Medicines by 12.7% during the 4th quarter. Geode Capital Management LLC now owns 4,086,199 shares of the company's stock worth $180,171,000 after buying an additional 459,174 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in Revolution Medicines by 8.0% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,978,720 shares of the company's stock worth $86,549,000 after buying an additional 146,699 shares during the period. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Performance

RVMD traded up $2.70 during trading on Monday, reaching $41.47. 2,872,304 shares of the stock were exchanged, compared to its average volume of 1,437,485. The stock has a market cap of $7.71 billion, a P/E ratio of -11.55 and a beta of 1.37. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The stock's 50 day moving average price is $37.42 and its two-hundred day moving average price is $43.95.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.11). Equities research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Revolution Medicines 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 completion of the transaction, the chief operating officer now directly owns 153,533 shares of the company's stock, valued at $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the transaction, the insider now directly owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock valued at $650,406 over the last ninety days. 8.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on RVMD shares. HC Wainwright raised their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. UBS Group lifted their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Needham & Company LLC reiterated a "buy" rating and issued a $59.00 price objective on shares of Revolution Medicines in a report on Tuesday, April 8th. Stifel Nicolaus lowered their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Finally, Wedbush reiterated an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Monday. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $66.67.

Revolution Medicines 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.