Fisher Asset Management LLC Buys Shares of 7,305 Revolution Medicines, Inc. $RVMD

Fisher Asset Management LLC purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,305 shares of the company’s stock, valued at approximately $341,000.

A number of other hedge funds have also modified their holdings of the stock. Nextech Invest Ltd. boosted its position in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Millennium Management LLC increased its position in Revolution Medicines by 681.8% in the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after purchasing an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Revolution Medicines by 14.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock worth $10,615,000 after purchasing an additional 37,345 shares in the last quarter. Amalgamated Bank raised its stake in shares of Revolution Medicines by 49.6% during the 2nd quarter. Amalgamated Bank now owns 8,780 shares of the company’s stock worth $323,000 after purchasing an additional 2,910 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Revolution Medicines during the 2nd quarter valued at about $673,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $98.00, for a total value of $980,000.00. Following the sale, the chief financial officer directly owned 108,065 shares of the company’s stock, valued at approximately $10,590,370. This trade represents a 8.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark A. Goldsmith sold 6,000 shares of Revolution Medicines stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $101.30, for a total value of $607,800.00. Following the completion of the transaction, the insider owned 64,424 shares in the company, valued at $6,526,151.20. The trade was a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,792 shares of company stock valued at $14,379,040 over the last three months. 8.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Wolfe Research initiated coverage on shares of Revolution Medicines in a research report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. UBS Group initiated coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They issued a “buy” rating for the company. Finally, Benchmark restated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $78.94.

Revolution Medicines Trading Down 1.2%

NASDAQ:RVMD opened at $98.40 on Monday. The company’s 50 day moving average is $101.08 and its 200-day moving average is $73.09. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $124.49. The firm has a market cap of $19.50 billion, a price-to-earnings ratio of -16.65 and a beta of 0.99.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data 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 earned ($1.12) EPS. Equities analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Revolution Medicines Company 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.