87,509 Shares in Revolution Medicines, Inc. $RVMD Acquired by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 87,509 shares of the company's stock, valued at approximately $16,389,000. Revolution Medicines accounts for about 0.8% of ADAR1 Capital Management LLC's investment portfolio, making the stock its 29th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RVMD. Contravisory Investment Management Inc. purchased a new stake in shares of Revolution Medicines during the second quarter valued at approximately $32,000. Johnson Financial Group Inc. purchased a new position in shares of Revolution Medicines in the second quarter worth $37,000. Northwestern Mutual Wealth Management Co. bought a new stake in Revolution Medicines during the 2nd quarter valued at $41,000. Silvant Capital Management LLC bought a new stake in Revolution Medicines during the 2nd quarter valued at $41,000. Finally, Rakuten Securities Inc. purchased a new stake in Revolution Medicines during the 2nd quarter valued at $66,000. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $211.38 on Wednesday. Revolution Medicines, Inc. has a 1 year low of $35.62 and a 1 year high of $220.34. The stock has a market capitalization of $45.31 billion, a P/E ratio of -23.97 and a beta of 1.39. The company's 50-day moving average is $190.11 and its 200 day moving average is $146.46. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period last year, the firm posted ($1.31) EPS. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -8.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RVMD. Piper Sandler boosted their price objective on shares of Revolution Medicines to $172.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Needham & Company LLC increased their target price on shares of Revolution Medicines from $236.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Evercore reissued an "outperform" rating and issued a $230.00 target price on shares of Revolution Medicines in a research note on Thursday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a report on Friday, July 17th. Finally, Guggenheim upped their price target on Revolution Medicines from $235.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Revolution Medicines has a consensus rating of "Moderate Buy" and an average target price of $167.89.

Insider Transactions at Revolution Medicines

In other news, Director Sushil Patel sold 5,580 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the transaction, the director owned 21,656 shares in the company, valued at $4,071,111.44. This trade represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 80,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $209.20, for a total value of $16,736,000.00. Following the sale, the insider owned 267,330 shares in the company, valued at $55,925,436. This represents a 23.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 212,497 shares of company stock worth $38,206,486. 7.60% of the stock is owned by insiders.

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.

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