Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC boosted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 283.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 170,000 shares of the company's stock after acquiring an additional 125,649 shares during the quarter. Revolution Medicines accounts for 1.5% of ADAR1 Capital Management LLC's portfolio, making the stock its 14th biggest holding. ADAR1 Capital Management LLC owned about 0.10% of Revolution Medicines worth $7,436,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Revolution Medicines during the 3rd quarter valued at $801,000. State Street Corp lifted its holdings in shares of Revolution Medicines by 4.1% during the third quarter. State Street Corp now owns 5,279,584 shares of the company's stock worth $239,429,000 after purchasing an additional 208,516 shares during the period. Barclays PLC boosted its position in Revolution Medicines by 187.1% in the third quarter. Barclays PLC now owns 294,664 shares of the company's stock valued at $13,362,000 after buying an additional 192,021 shares during the last quarter. Geode Capital Management LLC increased its holdings in Revolution Medicines by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company's stock worth $164,517,000 after buying an additional 291,369 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in Revolution Medicines by 92.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company's stock worth $2,711,000 after buying an additional 29,853 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

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Revolution Medicines Price Performance

NASDAQ RVMD traded up $2.05 on Friday, hitting $35.72. The company had a trading volume of 1,815,418 shares, compared to its average volume of 1,422,446. The company has a market capitalization of $6.64 billion, a PE ratio of -9.95 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 company's fifty day moving average price is $38.41 and its 200-day moving average price is $44.70.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RVMD. HC Wainwright increased their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. UBS Group upped their price target on shares of 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 reissued a "buy" rating and issued a $59.00 price objective on shares of Revolution Medicines in a report on Tuesday. Stifel Nicolaus lowered their target price on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Finally, Wedbush reissued an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $66.67.

Insider Activity

In other news, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the transaction, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Margaret A. Horn sold 3,058 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares of the company's stock, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock worth $650,406 over the last quarter. 8.00% of the stock is currently owned by corporate insiders.

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.