4,279,464 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Purchased by Boxer Capital Management LLC

Boxer Capital Management LLC acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,279,464 shares of the company’s stock, valued at approximately $187,184,000. Revolution Medicines accounts for approximately 15.8% of Boxer Capital Management LLC’s investment portfolio, making the stock its biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RVMD. Kapitalo Investimentos Ltda acquired a new position in shares of Revolution Medicines during the 4th quarter worth $104,000. Schonfeld Strategic Advisors LLC boosted its holdings in Revolution Medicines by 169.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 20,000 shares of the company’s stock worth $875,000 after buying an additional 12,579 shares in the last quarter. Northern Trust Corp grew its position in Revolution Medicines by 17.4% during the fourth quarter. Northern Trust Corp now owns 1,540,078 shares of the company’s stock worth $67,363,000 after buying an additional 228,790 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Revolution Medicines by 11.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 237,539 shares of the company’s stock valued at $10,390,000 after buying an additional 24,698 shares in the last quarter. Finally, Artia Global Partners LP increased its holdings in Revolution Medicines by 196.4% in the fourth quarter. Artia Global Partners LP now owns 284,190 shares of the company’s stock valued at $12,430,000 after buying an additional 188,305 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $40.64 on Friday. The firm has a market capitalization of $7.56 billion, a PE ratio of -11.32 and a beta of 1.37. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The business has a 50-day moving average of $37.35 and a two-hundred day moving average of $43.84.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). As a group, research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In other news, CFO Jack Anders sold 1,864 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the transaction, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 11,738 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock valued at $650,406 over the last quarter. Company insiders own 8.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on RVMD. Needham & Company LLC restated a “buy” rating and issued a $59.00 price target on shares of Revolution Medicines in a report on Tuesday, April 8th. UBS Group upped their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Stifel Nicolaus cut their price target on 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 objective on shares of Revolution Medicines in a research note on Monday. Finally, HC Wainwright lifted their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $66.67.

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.