HighVista Strategies LLC Has $1.56 Million Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

HighVista Strategies LLC raised its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 179.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,083 shares of the company’s stock after buying an additional 25,758 shares during the quarter. HighVista Strategies LLC’s holdings in Revolution Medicines were worth $1,556,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RVMD. Dimensional Fund Advisors LP lifted its position in Revolution Medicines by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,795,421 shares of the company’s stock valued at $51,496,000 after acquiring an additional 133,558 shares in the last quarter. Principal Financial Group Inc. raised its position in Revolution Medicines by 22.8% in the 4th quarter. Principal Financial Group Inc. now owns 30,194 shares of the company’s stock valued at $866,000 after buying an additional 5,614 shares during the last quarter. Norges Bank bought a new stake in Revolution Medicines in the 4th quarter valued at approximately $8,079,000. UBS Group AG boosted its position in Revolution Medicines by 215.5% during the 4th quarter. UBS Group AG now owns 306,558 shares of the company’s stock worth $8,792,000 after acquiring an additional 209,399 shares during the last quarter. Finally, Finepoint Capital LP boosted its position in Revolution Medicines by 44.5% during the 4th quarter. Finepoint Capital LP now owns 617,100 shares of the company’s stock worth $17,698,000 after acquiring an additional 190,100 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

RVMD has been the topic of a number of research reports. Oppenheimer boosted their price objective on shares of Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Barclays increased their price objective on shares of Revolution Medicines from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Wedbush reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. Needham & Company LLC reduced their price target on Revolution Medicines from $62.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their price target on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Revolution Medicines has an average rating of “Buy” and an average target price of $53.45.

Insider Transactions at Revolution Medicines

In other news, General Counsel Jeff Cislini sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the transaction, the general counsel now owns 49,487 shares in the company, valued at $1,903,764.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $44.00, for a total value of $94,820.00. Following the transaction, the director now directly owns 19,948 shares in the company, valued at $877,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Jeff Cislini sold 2,000 shares of Revolution Medicines stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the completion of the sale, the general counsel now owns 49,487 shares of the company’s stock, valued at approximately $1,903,764.89. The disclosure for this sale can be found here. Insiders sold a total of 58,221 shares of company stock worth $2,629,277 over the last quarter. Company insiders own 8.00% of the company’s stock.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $45.42 on Monday. The business has a fifty day simple moving average of $43.98 and a two-hundred day simple moving average of $39.24. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $48.61. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of -12.11 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.81 million. During the same period in the previous year, the company posted ($0.92) EPS. The business’s revenue was down 73.8% compared to the same quarter last year. As a group, equities analysts anticipate that Revolution Medicines, Inc. will post -3.47 earnings per share for the current fiscal year.

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.