Revolution Medicines, Inc. $RVMD is General Atlantic L.P.’s 6th Largest Position

General Atlantic L.P. boosted its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 13.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,812,928 shares of the company’s stock after acquiring an additional 338,500 shares during the period. Revolution Medicines comprises 7.8% of General Atlantic L.P.’s investment portfolio, making the stock its 6th biggest holding. General Atlantic L.P. owned about 1.46% of Revolution Medicines worth $224,050,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Indiana Trust & Investment Management Co acquired a new position in shares of Revolution Medicines during the fourth quarter worth $32,000. Global Retirement Partners LLC raised its stake in Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares in the last quarter. Torren Management LLC acquired a new stake in Revolution Medicines in the fourth quarter valued at $33,000. Arax Advisory Partners purchased a new stake in Revolution Medicines during the 4th quarter worth about $38,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Revolution Medicines during the 4th quarter worth about $40,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on RVMD. Truist Financial started coverage on Revolution Medicines in a research report on Monday, May 18th. They set a “buy” rating and a $179.00 target price on the stock. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Monday, June 1st. HC Wainwright increased their price target on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Oppenheimer increased their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Guggenheim increased their price target on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Revolution Medicines currently has an average rating of “Buy” and an average price target of $123.72.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 120,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the transaction, the insider owned 276,698 shares in the company, valued at $41,529,602.82. This trade represents a 30.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 7.60% of the company’s stock.

Revolution Medicines Price Performance

RVMD stock opened at $156.58 on Wednesday. The company has a market capitalization of $33.29 billion, a P/E ratio of -22.15 and a beta of 1.40. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $166.50. The business has a 50 day simple moving average of $143.13 and a 200-day simple moving average of $111.82. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business earned ($1.13) earnings per share. As a group, equities analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

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.