Geode Capital Management LLC Purchases 16,323 Shares of Revolution Medicines, Inc. $RVMD

Geode Capital Management LLC increased its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,161,963 shares of the company’s stock after purchasing an additional 16,323 shares during the period. Geode Capital Management LLC owned approximately 1.64% of Revolution Medicines worth $251,912,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 1,056,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Revolution Medicines by 194.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock worth $1,696,000 after purchasing an additional 14,062 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Revolution Medicines by 39.3% in the 3rd quarter. New York State Common Retirement Fund now owns 119,807 shares of the company’s stock worth $5,595,000 after purchasing an additional 33,821 shares in the last quarter. Raiffeisen Bank International AG bought a new position in Revolution Medicines in the 3rd quarter worth about $921,000. Finally, Mass General Brigham Inc bought a new position in Revolution Medicines in the 4th quarter worth about $27,407,000. Institutional investors own 94.34% of the company’s stock.

Insider Transactions at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 4,302 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the transaction, the insider owned 295,398 shares in the company, valued at $29,386,193.04. This represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark A. Goldsmith sold 120,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was 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 owned 276,698 shares in the company, valued at $41,529,602.82. This trade represents a 30.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 148,592 shares of company stock worth $20,855,132. 7.60% of the stock is currently owned by corporate insiders.

Revolution Medicines Price Performance

RVMD opened at $151.31 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 $32.17 billion, a P/E ratio of -21.40 and a beta of 1.40. The company’s 50-day simple moving average is $130.74 and its two-hundred day simple moving average is $105.50. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last issued 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 period in the previous year, the company posted ($1.13) EPS. As a group, analysts predict that Revolution Medicines, Inc. will post -7.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Guggenheim upped their target price on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Benchmark restated an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.