ExodusPoint Capital Management LP Acquires Shares of 123,315 Revolution Medicines, Inc. (NASDAQ:RVMD)

ExodusPoint Capital Management LP bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 123,315 shares of the company’s stock, valued at approximately $5,394,000. ExodusPoint Capital Management LP owned 0.07% of Revolution Medicines at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RVMD. Vanguard Group Inc. increased its stake in 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 acquiring an additional 2,185,082 shares during the period. State Street Corp grew its holdings in shares of Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock worth $239,429,000 after purchasing an additional 208,516 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Revolution Medicines by 12.7% during the 4th quarter. Geode Capital Management LLC now owns 4,086,199 shares of the company’s stock worth $180,171,000 after purchasing an additional 459,174 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company’s stock worth $84,467,000 after purchasing an additional 167,997 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Revolution Medicines in the third quarter valued at about $83,082,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have commented on RVMD. Stifel Nicolaus decreased their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Needham & Company LLC decreased their price objective on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. UBS Group boosted their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright raised their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Wedbush reissued an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $65.23.

Revolution Medicines Trading Down 4.7 %

NASDAQ:RVMD opened at $31.32 on Friday. The stock’s 50-day moving average is $39.61 and its 200-day moving average is $45.25. Revolution Medicines, Inc. has a 1-year low of $30.94 and a 1-year high of $62.40. The stock has a market cap of $5.82 billion, a P/E ratio of -8.72 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, equities analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Revolution Medicines 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.