Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 46.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,600 shares of the company's stock after buying an additional 10,900 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Revolution Medicines were worth $1,513,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Revolution Medicines by 14.7% during the fourth 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. Farallon Capital Management LLC increased its holdings in Revolution Medicines by 17.1% during the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock worth $579,498,000 after purchasing an additional 1,931,000 shares during the period. Janus Henderson Group PLC raised its position in Revolution Medicines by 54.5% during the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock valued at $414,777,000 after purchasing an additional 3,346,755 shares in the last quarter. Baker BROS. Advisors LP lifted its holdings in shares of Revolution Medicines by 4.9% in the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock worth $347,163,000 after buying an additional 367,882 shares during the period. Finally, Nextech Invest Ltd. grew its position in shares of Revolution Medicines by 20.7% during 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. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Stock Up 3.6%

Shares of RVMD traded up $1.35 during mid-day trading on Thursday, hitting $39.08. 1,811,442 shares of the company traded hands, compared to its average volume of 1,507,874. The company has a market capitalization of $7.28 billion, a PE ratio of -10.89 and a beta of 1.11. The business has a 50 day moving average of $37.53 and a 200 day moving average of $42.22. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter last year, the business posted ($0.70) EPS. As a group, research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insider Activity

In related news, CFO Jack Anders sold 1,864 shares of the company'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 value of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 11,738 shares of the firm'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 $458,251.52. Following the transaction, the insider now directly owns 441,564 shares of the company's stock, valued at $17,238,658.56. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock valued at $650,406 over the last ninety days. 8.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

RVMD has been the subject of several research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $57.00 price target on shares of Revolution Medicines in a research report on Thursday, May 8th. HC Wainwright restated a "buy" rating and set a $72.00 target price (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Wedbush reiterated an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, May 8th. Oppenheimer boosted their price target on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Stifel Nicolaus dropped their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $67.08.

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.