Finepoint Capital LP Has $31.07 Million Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Finepoint Capital LP trimmed its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 710,260 shares of the company's stock after selling 21,700 shares during the quarter. Revolution Medicines accounts for approximately 1.9% of Finepoint Capital LP's portfolio, making the stock its 5th largest holding. Finepoint Capital LP owned about 0.42% of Revolution Medicines worth $31,067,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RVMD. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 2,185,082 shares during the period. Lord Abbett & CO. LLC purchased a new position in Revolution Medicines in the third quarter valued at about $83,082,000. Norges Bank bought a new position in shares of Revolution Medicines during the 4th quarter valued at approximately $76,197,000. Pictet Asset Management Holding SA raised its holdings in shares of Revolution Medicines by 4,399.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 712,596 shares of the company's stock worth $31,169,000 after purchasing an additional 696,759 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Revolution Medicines by 12.7% in the fourth quarter. Geode Capital Management LLC now owns 4,086,199 shares of the company's stock valued at $180,171,000 after purchasing an additional 459,174 shares during the last quarter. Institutional investors own 94.34% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RVMD. UBS Group upped their price target on Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Stifel Nicolaus cut their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. HC Wainwright boosted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Wedbush reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $59.00 target price on shares of Revolution Medicines in a report on Tuesday. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $66.67.

Insiders Place Their Bets

In other news, CFO Jack Anders sold 1,864 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. The trade was a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Margaret A. Horn sold 3,058 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 transaction of $119,384.32. Following the transaction, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their position. 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 90 days. Insiders own 8.00% of the company's stock.

Revolution Medicines Stock Performance

RVMD traded up $1.63 on Friday, reaching $35.30. The company had a trading volume of 513,809 shares, compared to its average volume of 1,495,698. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The company has a market cap of $6.56 billion, a price-to-earnings ratio of -9.82 and a beta of 1.37. The business has a 50 day simple moving average of $38.54 and a 200 day simple moving average of $44.76.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data 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). As a group, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal 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.