Polar Asset Management Partners Inc. Has $1.51 Million Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Polar Asset Management Partners Inc. grew its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 46.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,600 shares of the company's stock after purchasing an additional 10,900 shares during the period. Polar Asset Management Partners Inc.'s holdings in Revolution Medicines were worth $1,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Revolution Medicines by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after purchasing an additional 2,185,082 shares in the last quarter. 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 last quarter. Janus Henderson Group PLC increased its holdings 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 worth $414,777,000 after purchasing an additional 3,346,755 shares during the last quarter. Baker BROS. Advisors LP increased its holdings in Revolution Medicines by 4.9% during the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company's stock worth $347,163,000 after purchasing an additional 367,882 shares during the last quarter. Finally, Nextech Invest Ltd. increased its holdings in 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 purchasing an additional 1,304,347 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Trading Up 2.3%

RVMD traded up $0.90 during trading on Friday, reaching $39.98. 2,622,713 shares of the company were exchanged, compared to its average volume of 1,517,169. The stock has a market cap of $7.45 billion, a P/E ratio of -11.14 and a beta of 1.11. The firm has a 50 day moving average of $37.56 and a 200 day moving average of $41.82. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same period in the prior year, the company earned ($0.70) earnings per share. As a group, analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RVMD shares. Guggenheim lowered their price target on Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and issued a $72.00 price target (down from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 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 company an "outperform" rating in a report on Thursday, May 8th. Finally, Stifel Nicolaus lowered their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, Revolution Medicines has an average rating of "Buy" and a consensus target price of $67.08.

Insider Transactions at Revolution Medicines

In other news, COO Margaret A. Horn sold 3,058 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares in the company, valued at $5,993,928.32. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jack Anders sold 1,864 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the sale, the chief financial officer now owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. This trade represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,660 shares of company stock valued at $650,406. 8.20% of the stock is currently owned by corporate insiders.

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.