American International Group Inc. Increases Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

American International Group Inc. lifted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 41.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,494 shares of the company’s stock after purchasing an additional 20,881 shares during the quarter. American International Group Inc.’s holdings in Revolution Medicines were worth $2,050,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Revolution Medicines by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock worth $292,646,000 after purchasing an additional 282,786 shares during the period. Bellevue Group AG boosted its holdings in Revolution Medicines by 7.8% during the 4th quarter. Bellevue Group AG now owns 5,091,000 shares of the company’s stock valued at $146,010,000 after acquiring an additional 369,500 shares during the period. Vanguard Group Inc. boosted its holdings in Revolution Medicines by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock valued at $266,935,000 after acquiring an additional 303,088 shares during the period. Walleye Capital LLC purchased a new position in Revolution Medicines during the 3rd quarter valued at $2,644,000. Finally, Finepoint Capital LP boosted its holdings in Revolution Medicines by 44.5% during the 4th quarter. Finepoint Capital LP now owns 617,100 shares of the company’s stock valued at $17,698,000 after acquiring an additional 190,100 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Up 0.9 %

RVMD opened at $38.83 on Wednesday. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of -10.35 and a beta of 1.45. Revolution Medicines, Inc. has a 12 month low of $15.44 and a 12 month high of $41.21. The stock has a fifty day moving average price of $38.25 and a 200-day moving average price of $32.71.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.05. The company’s revenue was down 100.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.72) earnings per share. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -3.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RVMD shares. Raymond James upgraded Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $36.00 to $48.00 in a report on Wednesday, April 10th. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of Revolution Medicines in a report on Thursday, May 9th. Oppenheimer boosted their price objective on Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 12th. HC Wainwright restated a “buy” rating and set a $44.00 price objective on shares of Revolution Medicines in a report on Monday, May 13th. Finally, Wedbush boosted their price objective on Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Revolution Medicines has a consensus rating of “Buy” and an average target price of $43.20.

Insider Transactions at Revolution Medicines

In other news, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the completion of the transaction, the chief financial officer now directly owns 101,959 shares of the company’s stock, valued at approximately $4,081,418.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total transaction of $79,735.00. Following the transaction, the director now directly owns 15,700 shares of the company’s stock, valued at approximately $580,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $40.03, for a total value of $400,300.00. Following the transaction, the chief financial officer now directly owns 101,959 shares in the company, valued at $4,081,418.77. The disclosure for this sale can be found here. In the last three months, insiders sold 19,655 shares of company stock valued at $746,135. Corporate insiders own 8.00% of the company’s stock.

Revolution Medicines Company 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.