Polar Capital Holdings Plc lifted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 321.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,013,791 shares of the company’s stock after purchasing an additional 1,535,686 shares during the quarter. Polar Capital Holdings Plc owned about 1.04% of Revolution Medicines worth $160,398,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Indiana Trust & Investment Management Co purchased a new position in shares of Revolution Medicines in the 4th quarter worth approximately $32,000. Global Retirement Partners LLC boosted its holdings in shares of Revolution Medicines by 1,002.8% in the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the period. Torren Management LLC purchased a new position in shares of Revolution Medicines in the 4th quarter worth approximately $33,000. Arax Advisory Partners purchased a new position in shares of Revolution Medicines in the 4th quarter worth approximately $38,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Revolution Medicines in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.
Revolution Medicines Price Performance
Shares of RVMD stock opened at $156.58 on Wednesday. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $166.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The firm has a market capitalization of $33.29 billion, a P/E ratio of -22.15 and a beta of 1.40. The stock has a 50 day moving average price of $143.13 and a 200 day moving average price of $111.82.
Analysts Set New Price Targets
RVMD has been the subject of a number of recent research reports. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Oppenheimer raised their price target on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Piper Sandler raised their price target on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Finally, Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research note on Monday, June 1st. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $123.72.
View Our Latest Report on RVMD
Insiders Place Their Bets
In other Revolution Medicines news, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines 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 completion of the sale, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. The trade was a 30.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.
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