Baker BROS. Advisors LP Has $441.57 Million Position in Revolution Medicines, Inc. $RVMD

Baker BROS. Advisors LP increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 1.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,455,357 shares of the company’s stock after buying an additional 90,385 shares during the period. Revolution Medicines makes up 3.2% of Baker BROS. Advisors LP’s holdings, making the stock its 8th biggest holding. Baker BROS. Advisors LP’s holdings in Revolution Medicines were worth $441,565,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. General Atlantic L.P. bought a new position in shares of Revolution Medicines in the third quarter worth about $115,556,000. Norges Bank bought a new stake in shares of Revolution Medicines during the second quarter valued at approximately $62,584,000. Nextech Invest Ltd. increased its holdings in shares of Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Vestal Point Capital LP bought a new position in Revolution Medicines in the 2nd quarter worth approximately $44,148,000. Finally, Bellevue Group AG lifted its holdings in Revolution Medicines by 21.7% during the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after buying an additional 994,538 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $94.86 on Friday. The firm has a fifty day moving average of $102.88 and a two-hundred day moving average of $74.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of -16.05 and a beta of 0.99. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $124.49.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period last year, the company posted ($1.12) earnings per share. As a group, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. UBS Group started coverage on Revolution Medicines in a report on Friday, February 27th. They issued a “buy” rating on the stock. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Finally, Evercore upgraded shares of Revolution Medicines to a “strong-buy” rating in a research report on Wednesday, February 25th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $78.94.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total value of $7,542,000.00. Following the sale, the chief operating officer directly owned 141,053 shares in the company, valued at $14,184,289.68. This trade represents a 34.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark A. Goldsmith sold 30,000 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $101.22, for a total transaction of $3,036,600.00. Following the transaction, the insider directly owned 289,569 shares in the company, valued at $29,310,174.18. The trade was a 9.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 149,792 shares of company stock worth $14,379,040 in the last ninety days. 8.20% of the stock is currently owned by corporate insiders.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.