750,665 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Acquired by Polar Capital Holdings Plc

Polar Capital Holdings Plc acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 750,665 shares of the company's stock, valued at approximately $32,834,000. Polar Capital Holdings Plc owned 0.45% of Revolution Medicines as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc purchased a new stake in shares of Revolution Medicines during the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC raised its stake in shares of Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after purchasing an additional 1,672 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock valued at $90,000 after purchasing an additional 1,613 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of Revolution Medicines during the fourth quarter valued at approximately $104,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Revolution Medicines by 521.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock valued at $165,000 after purchasing an additional 3,178 shares during the period. Hedge funds and other institutional investors own 94.34% of the company's stock.

Insider Transactions at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of the 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 $119,384.32. Following the transaction, the chief operating officer now owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark A. Goldsmith sold 11,738 shares of the 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 $458,251.52. Following the completion of the transaction, the insider now owns 441,564 shares in the company, valued at $17,238,658.56. This represents a 2.59% 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 over the last three months. 8.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wedbush restated an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, May 8th. Guggenheim reduced their price target on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Oppenheimer boosted their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. HC Wainwright reaffirmed a "buy" rating and issued a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Finally, Stifel Nicolaus cut their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $67.08.

Revolution Medicines Price Performance

NASDAQ RVMD traded down $1.54 on Wednesday, hitting $38.93. 385,869 shares of the company were exchanged, compared to its average volume of 1,487,250. The company's 50 day moving average price is $37.53 and its 200-day moving average price is $42.93. The firm has a market capitalization of $7.25 billion, a P/E ratio of -10.85 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.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same period last year, the firm earned ($0.70) EPS. As a group, equities analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

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.