General Atlantic L.P. Acquires New Position in Revolution Medicines, Inc. $RVMD

General Atlantic L.P. acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,474,428 shares of the company’s stock, valued at approximately $115,556,000. Revolution Medicines comprises about 3.5% of General Atlantic L.P.’s investment portfolio, making the stock its 9th biggest holding. General Atlantic L.P. owned about 1.28% of Revolution Medicines at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Platinum Investment Management Ltd. acquired a new position in shares of Revolution Medicines in the 3rd quarter valued at $961,000. Marshall Wace LLP increased its holdings in Revolution Medicines by 482.0% in the third quarter. Marshall Wace LLP now owns 161,096 shares of the company’s stock worth $7,523,000 after buying an additional 133,415 shares during the last quarter. Sei Investments Co. raised its position in Revolution Medicines by 1.4% during the third quarter. Sei Investments Co. now owns 51,930 shares of the company’s stock valued at $2,425,000 after acquiring an additional 724 shares in the last quarter. UBS Group AG lifted its stake in Revolution Medicines by 111.6% in the third quarter. UBS Group AG now owns 1,088,965 shares of the company’s stock valued at $50,855,000 after acquiring an additional 574,212 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Revolution Medicines by 485.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 191,327 shares of the company’s stock valued at $8,935,000 after acquiring an additional 158,632 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 5,447 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total value of $418,438.54. Following the sale, the insider owned 278,600 shares of the company’s stock, valued at $21,402,052. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Margaret A. Horn sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $100.56, for a total transaction of $7,542,000.00. Following the transaction, the chief operating officer owned 141,053 shares of the company’s stock, valued at approximately $14,184,289.68. This represents a 34.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 149,792 shares of company stock worth $14,379,040. Corporate insiders own 8.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Evercore upgraded shares of Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, February 25th. UBS Group began coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating on the stock. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a report on Thursday, January 22nd. Finally, Wolfe Research assumed coverage on shares of Revolution Medicines in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price objective for the company. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $78.94.

Revolution Medicines Trading Down 0.2%

Shares of RVMD opened at $94.86 on Friday. The stock’s 50-day moving average price is $102.88 and its 200 day moving average price is $74.71. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. The firm 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 12-month low of $29.17 and a 12-month high of $124.49.

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

Revolution Medicines Company 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.