Polar Capital Holdings Plc Acquires Shares of 750,665 Revolution Medicines, Inc. (NASDAQ:RVMD)

Polar Capital Holdings Plc acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. 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.

A number of other institutional investors and hedge funds have also bought and sold shares of RVMD. IFP Advisors Inc bought a new position in shares of Revolution Medicines in the 4th quarter worth $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 lifted its position 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 buying an additional 1,613 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Revolution Medicines in the 4th quarter valued at about $104,000. Finally, Daiwa Securities Group Inc. grew its position in shares of Revolution Medicines by 521.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock worth $165,000 after buying an additional 3,178 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RVMD has been the subject of a number of analyst reports. 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. Oppenheimer upped their target price on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and set a $57.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. Wedbush reissued an "outperform" rating and set a $67.00 target price on shares of Revolution Medicines in a research report on Thursday, May 8th. Finally, Stifel Nicolaus decreased 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 analysts have rated the stock with a buy rating, According to MarketBeat, Revolution Medicines currently has a consensus rating of "Buy" and an average price target of $67.08.

Revolution Medicines Price Performance

RVMD stock traded up $0.54 during midday trading on Tuesday, hitting $40.47. 1,044,622 shares of the stock traded hands, compared to its average volume of 1,494,565. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The stock's fifty day simple moving average is $37.50 and its 200-day simple moving average is $42.94. The firm has a market cap of $7.54 billion, a P/E ratio of -11.27 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter in the previous year, the business 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 at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 1,864 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 transaction of $72,770.56. Following the completion of the transaction, the chief financial officer now owns 115,006 shares of the company's stock, valued at $4,489,834.24. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines 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 completion of the sale, the chief operating officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 16,660 shares of company stock valued at $650,406. Company insiders own 8.20% of the company's stock.

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.