Polar Capital Holdings Plc Purchases 1,535,686 Shares of Revolution Medicines, Inc. $RVMD

Polar Capital Holdings Plc raised its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 321.2% in the fourth quarter, HoldingsChannel reports. The firm owned 2,013,791 shares of the company’s stock after acquiring an additional 1,535,686 shares during the period. Polar Capital Holdings Plc’s holdings in Revolution Medicines were worth $160,398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RVMD. Vanguard Group Inc. raised its position in shares of Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Revolution Medicines by 194.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock worth $1,696,000 after acquiring an additional 14,062 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Revolution Medicines in the 3rd quarter worth $921,000. Mass General Brigham Inc bought a new position in shares of Revolution Medicines in the 4th quarter worth $27,407,000. Finally, M&T Bank Corp bought a new position in shares of Revolution Medicines in the 4th quarter worth $52,723,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Stock Down 2.2%

Shares of RVMD stock opened at $156.58 on Wednesday. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $166.50. The stock’s fifty day moving average price is $143.13 and its 200 day moving average price is $111.82. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The company has a market cap of $33.29 billion, a price-to-earnings ratio of -22.15 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the previous year, the firm posted ($1.13) earnings per share. On average, research analysts expect that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RVMD shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. HC Wainwright boosted their price target on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Sanford C. Bernstein started coverage on Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target for the company. UBS Group started coverage on Revolution Medicines in a research report on Friday, February 27th. They issued a “buy” rating for the company. Finally, Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $123.72.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the transaction, the insider directly owned 276,698 shares in the company, valued at $41,529,602.82. The trade was a 30.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.60% of the stock is currently owned by company insiders.

Revolution Medicines Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.