2,170,000 Shares in Revolution Medicines, Inc. $RVMD Purchased by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,170,000 shares of the company’s stock, valued at approximately $172,840,000. Revolution Medicines makes up about 1.7% of Avoro Capital Advisors LLC’s portfolio, making the stock its 17th largest position.

Several other hedge funds have also bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after acquiring an additional 125 shares in the last quarter. Deutsche Bank AG boosted its stake in Revolution Medicines by 0.4% during the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after acquiring an additional 130 shares in the last quarter. Signaturefd LLC boosted its stake in Revolution Medicines by 33.1% during the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after acquiring an additional 163 shares in the last quarter. Allworth Financial LP boosted its stake in Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after acquiring an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Revolution Medicines by 44.7% in the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $60,000 after buying an additional 232 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Down 2.2%

Shares of Revolution Medicines stock opened at $156.58 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a market capitalization of $33.29 billion, a PE ratio of -22.15 and a beta of 1.40. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $166.50. The company has a 50-day simple moving average of $143.13 and a two-hundred day simple moving average of $111.82.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period last year, the firm earned ($1.13) EPS. On average, analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the transaction, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.60% of the stock is owned by insiders.

Analyst Ratings Changes

RVMD has been the subject of several recent analyst reports. Truist Financial initiated coverage on shares of Revolution Medicines in a report on Monday, May 18th. They issued a “buy” rating and a $179.00 target price for the company. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Guggenheim lifted their target price on shares of Revolution Medicines to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Piper Sandler lifted their target price on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $123.72.

Revolution Medicines Profile

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.