a16z Perennial Management L.P. Purchases Shares of 182,918 Revolution Medicines, Inc. $RVMD

a16z Perennial Management L.P. purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 182,918 shares of the company’s stock, valued at approximately $14,569,000. Revolution Medicines comprises about 1.1% of a16z Perennial Management L.P.’s investment portfolio, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after buying an additional 1,056,792 shares in the last quarter. Farallon Capital Management LLC grew its stake in shares of Revolution Medicines by 2.1% in the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock worth $683,020,000 after buying an additional 300,000 shares in the last quarter. Baker BROS. Advisors LP grew its stake in shares of Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock worth $441,565,000 after buying an additional 90,385 shares in the last quarter. Nextech Invest Ltd. grew its stake in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP grew its stake in shares of Revolution Medicines by 2.1% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock worth $290,628,000 after buying an additional 130,000 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the sale, the insider owned 276,698 shares in the company, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Margaret A. Horn sold 4,583 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $455,916.84. Following the completion of the sale, the chief operating officer owned 157,570 shares of the company’s stock, valued at approximately $15,675,063.60. This represents a 2.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 148,592 shares of company stock worth $20,855,132. 7.60% of the stock is owned by corporate insiders.

Revolution Medicines Stock Performance

Shares of RVMD opened at $157.48 on Monday. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $158.13. The company has a 50-day moving average of $129.46 and a 200 day moving average of $104.80. The firm has a market capitalization of $33.48 billion, a price-to-earnings ratio of -22.27 and a beta of 1.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the company posted ($1.13) EPS. On average, research analysts expect that Revolution Medicines, Inc. will post -7.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Guggenheim lifted their price objective on shares of Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Piper Sandler lifted their price objective on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Wedbush lifted their price objective on shares of Revolution Medicines to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Revolution Medicines in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $111.35.

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.