HighVista Strategies LLC Purchases 107,400 Shares of Revolution Medicines, Inc. $RVMD

HighVista Strategies LLC lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 157.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 175,448 shares of the company’s stock after purchasing an additional 107,400 shares during the quarter. Revolution Medicines accounts for approximately 2.0% of HighVista Strategies LLC’s holdings, making the stock its 5th biggest holding. HighVista Strategies LLC’s holdings in Revolution Medicines were worth $8,193,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Revolution Medicines by 45.1% in the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after buying an additional 260 shares in the last quarter. US Bancorp DE raised its stake in shares of Revolution Medicines by 170.3% in the third quarter. US Bancorp DE now owns 3,168 shares of the company’s stock valued at $148,000 after acquiring an additional 1,996 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Revolution Medicines by 41.7% in the 2nd quarter. Osaic Holdings Inc. now owns 3,487 shares of the company’s stock worth $128,000 after acquiring an additional 1,027 shares in the last quarter. Avanza Fonder AB grew its position in Revolution Medicines by 17.5% during the 3rd quarter. Avanza Fonder AB now owns 4,335 shares of the company’s stock worth $202,000 after acquiring an additional 647 shares during the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in Revolution Medicines during the 3rd quarter valued at $205,000. 94.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on RVMD shares. UBS Group started coverage on Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating on the stock. Wolfe Research assumed coverage on Revolution Medicines in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 target price for the company. Evercore raised Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, February 25th. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Finally, Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $78.94.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $101.22, for a total transaction of $3,036,600.00. Following the transaction, the insider owned 289,569 shares in the company, valued at approximately $29,310,174.18. This trade represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Margaret A. Horn sold 75,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $100.56, for a total value of $7,542,000.00. Following the transaction, the chief operating officer owned 141,053 shares of the company’s stock, valued at $14,184,289.68. The trade was a 34.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 149,792 shares of company stock worth $14,379,040 in the last ninety days. 8.20% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $94.86 on Monday. The firm has a fifty day moving average of $102.88 and a two-hundred day moving average of $75.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of -16.05 and a beta of 0.99. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $124.49.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period last year, the company posted ($1.12) earnings per share. As a group, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

About Revolution Medicines

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.