Polar Asset Management Partners Inc. Boosts Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Polar Asset Management Partners Inc. increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 46.0% during the fourth quarter, according to its most recent Form 13F filing with the 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.

A number of other large investors have also recently made changes to their positions in RVMD. Barclays PLC increased its stake in Revolution Medicines by 187.1% in the third quarter. Barclays PLC now owns 294,664 shares of the company's stock valued at $13,362,000 after purchasing an additional 192,021 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Revolution Medicines by 92.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company's stock valued at $2,711,000 after purchasing an additional 29,853 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock valued at $84,467,000 after purchasing an additional 167,997 shares during the last quarter. Sandy Cove Advisors LLC acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $1,837,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Revolution Medicines by 11.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock valued at $186,000 after acquiring an additional 434 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RVMD has been the subject of several research analyst reports. HC Wainwright reissued a "buy" rating and issued a $72.00 price objective (down from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Oppenheimer increased their price objective on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and issued a $57.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. Guggenheim decreased their price objective on Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Wedbush reissued an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Revolution Medicines currently has an average rating of "Buy" and a consensus target price of $67.08.

Insider Transactions at Revolution Medicines

In related news, CFO Jack Anders sold 1,864 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the sale, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at approximately $5,993,928.32. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock valued at $650,406 in the last 90 days. 8.20% of the stock is currently owned by insiders.

Revolution Medicines Trading Up 0.3%

Shares of NASDAQ:RVMD traded up $0.13 during midday trading on Thursday, hitting $38.87. 350,715 shares of the stock were exchanged, compared to its average volume of 1,488,098. The stock has a market cap of $7.24 billion, a P/E ratio of -10.82 and a beta of 1.11. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The company has a 50 day moving average price of $37.52 and a 200-day moving average price of $42.90.

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 last year, the business earned ($0.70) earnings per share. On average, equities research analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

About Revolution Medicines

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.