ADAR1 Capital Management LLC Raises Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

ADAR1 Capital Management LLC lifted its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 283.3% in the 4th quarter, Holdings Channel reports. The fund owned 170,000 shares of the company’s stock after acquiring an additional 125,649 shares during the quarter. Revolution Medicines accounts for 1.5% of ADAR1 Capital Management LLC’s holdings, making the stock its 14th biggest holding. ADAR1 Capital Management LLC’s holdings in Revolution Medicines were worth $7,436,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Captrust Financial Advisors raised its holdings in shares of Revolution Medicines by 4.1% during the third quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after purchasing an additional 337 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Revolution Medicines in the 3rd quarter worth $645,000. Quarry LP bought a new stake in shares of Revolution Medicines in the third quarter worth $82,000. State Street Corp increased its position in Revolution Medicines by 4.1% during the third quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after acquiring an additional 208,516 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Revolution Medicines in the third quarter worth about $247,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RVMD shares. HC Wainwright boosted their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Wedbush restated an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, February 27th. UBS Group lifted their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Stifel Nicolaus cut their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Finally, Needham & Company LLC decreased their price target on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and an average target price of $65.23.

Revolution Medicines Trading Down 4.7 %

NASDAQ:RVMD opened at $31.32 on Monday. The company’s 50 day moving average is $39.61 and its two-hundred day moving average is $45.26. The company has a market cap of $5.82 billion, a PE ratio of -8.72 and a beta of 1.37. Revolution Medicines, Inc. has a twelve month low of $30.64 and a twelve month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insider Activity

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the transaction, the insider now directly owns 441,564 shares of the company’s stock, valued at $17,238,658.56. The trade was a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jack Anders sold 1,864 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares of the company’s stock, valued at $4,489,834.24. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock worth $650,406 in the last quarter. Corporate insiders own 8.00% of the company’s stock.

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.