Revolution Medicines, Inc. $RVMD Shares Acquired by HighVista Strategies LLC

HighVista Strategies LLC boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 157.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 175,448 shares of the company’s stock after buying an additional 107,400 shares during the quarter. Revolution Medicines accounts for about 2.0% of HighVista Strategies LLC’s investment portfolio, making the stock its 5th largest position. HighVista Strategies LLC owned approximately 0.09% of Revolution Medicines worth $8,193,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RVMD. General Atlantic L.P. acquired a new stake in shares of Revolution Medicines during the 3rd quarter valued at $115,556,000. Norges Bank acquired a new position in shares of Revolution Medicines in the 2nd quarter worth $62,584,000. Nextech Invest Ltd. grew its holdings in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Vestal Point Capital LP acquired a new stake in shares of Revolution Medicines during the second quarter worth $44,148,000. Finally, Bellevue Group AG raised its position in shares of Revolution Medicines by 21.7% during the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after purchasing an additional 994,538 shares during the period. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Down 0.2%

Shares of Revolution Medicines stock opened at $94.86 on Monday. The stock has a 50-day moving average price of $102.88 and a 200 day moving average price of $75.23. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.16. The company has a market cap of $18.80 billion, a P/E ratio of -16.05 and a beta of 0.99. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $124.49.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wolfe Research assumed coverage on Revolution Medicines in a research report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price target for the company. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a report on Friday, January 9th. UBS Group assumed coverage on shares of Revolution Medicines in a research note on Friday, February 27th. They set a “buy” rating for the company. Evercore upgraded shares of Revolution Medicines to a “strong-buy” rating in a report on Wednesday, February 25th. Finally, Benchmark restated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $78.94.

Insider Activity at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 5,447 shares of Revolution Medicines stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $418,438.54. Following the sale, the insider directly owned 278,600 shares of the company’s stock, valued at $21,402,052. This trade represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total value of $980,000.00. Following the completion of the transaction, the chief financial officer owned 108,065 shares of the company’s stock, valued at $10,590,370. The trade was a 8.47% 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 three months. Corporate insiders own 8.20% of the company’s stock.

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.