Polar Asset Management Partners Inc. Buys 10,900 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

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

Other large investors have also bought and sold shares of the company. IFP Advisors Inc bought a new position in shares of Revolution Medicines in the 4th quarter worth approximately $34,000. Sterling Capital Management LLC raised its holdings in Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after purchasing an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after purchasing an additional 1,613 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Revolution Medicines during the fourth quarter valued at $104,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Revolution Medicines by 521.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock valued at $165,000 after buying an additional 3,178 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Guggenheim decreased their price target on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $57.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. Stifel Nicolaus decreased their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Wedbush reissued an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, May 8th. Finally, HC Wainwright restated a "buy" rating and issued a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a research note on Wednesday. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $67.08.

Revolution Medicines Trading Up 0.3%

RVMD stock opened at $39.54 on Friday. The stock's 50 day simple moving average is $37.49 and its 200 day simple moving average is $43.17. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $62.40. The stock has a market capitalization of $7.37 billion, a PE ratio of -11.01 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same period in the previous year, the firm posted ($0.70) earnings per share. On average, research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the sale, the insider now owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. The trade was a 2.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the transaction, the chief operating officer now directly owns 153,533 shares in the company, valued at $5,993,928.32. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,660 shares of company stock worth $650,406. 8.20% of the stock is owned by corporate insiders.

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.

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