ADAR1 Capital Management LLC Has $7.44 Million Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

ADAR1 Capital Management LLC increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 283.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 170,000 shares of the company’s stock after buying an additional 125,649 shares during the period. Revolution Medicines accounts for approximately 1.5% of ADAR1 Capital Management LLC’s holdings, making the stock its 14th biggest position. ADAR1 Capital Management LLC owned about 0.10% of Revolution Medicines worth $7,436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RVMD. Cerity Partners LLC acquired a new position in Revolution Medicines in the 4th quarter valued at approximately $250,000. FMR LLC boosted its position in shares of Revolution Medicines by 14.7% during the 4th quarter. FMR LLC now owns 6,742,083 shares of the company’s stock valued at $294,899,000 after acquiring an additional 866,190 shares in the last quarter. Russell Investments Group Ltd. raised its position in Revolution Medicines by 11.4% in the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock worth $186,000 after purchasing an additional 434 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Revolution Medicines by 21.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 11,425 shares of the company’s stock worth $500,000 after purchasing an additional 2,041 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Revolution Medicines by 51.8% during the fourth quarter. Wells Fargo & Company MN now owns 88,327 shares of the company’s stock valued at $3,863,000 after purchasing an additional 30,155 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Price Performance

RVMD stock opened at $31.32 on Monday. The company’s 50-day moving average is $39.61 and its 200-day moving average is $45.26. Revolution Medicines, Inc. has a 1 year low of $30.64 and a 1 year high of $62.40. The stock has a market capitalization of $5.82 billion, a PE ratio of -8.72 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). On average, analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RVMD shares. UBS Group lifted their price objective on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC cut their price objective on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus lowered their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. HC Wainwright lifted their price target 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. Finally, Wedbush reissued an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, February 27th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $65.23.

Insider Activity at Revolution Medicines

In other news, COO Margaret A. Horn sold 3,058 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the transaction, the chief operating officer now owns 153,533 shares of the company’s stock, valued at approximately $5,993,928.32. The trade was a 1.95 % 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 the SEC website. Also, insider Mark A. Goldsmith sold 11,738 shares of the business’s 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 $458,251.52. Following the completion of the transaction, the insider now directly owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. This represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,660 shares of company stock worth $650,406. Insiders own 8.00% of the company’s stock.

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.