ADAR1 Capital Management LLC Increases Position in Revolution Medicines, Inc. $RVMD

Key Points

• ADAR1 Capital Management LLC increased its stake in Revolution Medicines by 4.2% during the first quarter, now holding 177,136 shares worth approximately $6.26 million.
• Several hedge funds, including Principal Financial Group and Mirae Asset Global Investments, also boosted their positions in RVMD, reflecting strong institutional interest with over 94% of the company's stock owned by institutional investors.
• Analysts maintain a consensus rating of "Buy" for Revolution Medicines with a average price target of $69.92, despite a recent earnings miss reporting EPS of ($1.31).

ADAR1 Capital Management LLC raised its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,136 shares of the company's stock after purchasing an additional 7,136 shares during the period. Revolution Medicines comprises 1.2% of ADAR1 Capital Management LLC's investment portfolio, making the stock its 22nd biggest position. ADAR1 Capital Management LLC owned approximately 0.10% of Revolution Medicines worth $6,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Quarry LP acquired a new stake in Revolution Medicines in the 1st quarter valued at about $50,000. Twin Tree Management LP acquired a new stake in shares of Revolution Medicines during the 1st quarter worth about $58,000. Goodman Advisory Group LLC acquired a new stake in shares of Revolution Medicines during the 1st quarter worth about $127,000. GF Fund Management CO. LTD. raised its position in shares of Revolution Medicines by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock worth $152,000 after acquiring an additional 775 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Revolution Medicines by 349.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,524 shares of the company's stock worth $160,000 after acquiring an additional 3,518 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RVMD shares. Truist Financial started coverage on Revolution Medicines in a research report on Friday. They set a "buy" rating and a $99.00 target price on the stock. HC Wainwright reissued a "buy" rating and set a $72.00 target price (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Wells Fargo & Company started coverage on Revolution Medicines in a research report on Friday, August 15th. They set an "overweight" rating and a $67.00 target price on the stock. Needham & Company LLC cut their target price on Revolution Medicines from $57.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, Guggenheim reissued a "buy" rating and set a $80.00 target price on shares of Revolution Medicines in a research report on Wednesday, June 25th. Fourteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $72.00.

Insider Transactions at Revolution Medicines

In related news, CFO Jack Anders sold 5,238 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total transaction of $210,410.46. Following the completion of the transaction, the chief financial officer directly owned 113,314 shares of the company's stock, valued at $4,551,823.38. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.20% of the stock is owned by corporate insiders.

Revolution Medicines Trading Up 4.0%

Shares of NASDAQ RVMD traded up $1.55 during mid-day trading on Friday, hitting $40.50. 1,705,576 shares of the company were exchanged, compared to its average volume of 1,952,136. The stock has a 50 day simple moving average of $37.26 and a 200-day simple moving average of $38.15. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). During the same period in the prior year, the firm posted ($0.81) EPS. The company's revenue was up .0% on a year-over-year basis. Equities analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

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.