Fisher Asset Management LLC Invests $341,000 in Revolution Medicines, Inc. $RVMD

Fisher Asset Management LLC bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,305 shares of the company’s stock, valued at approximately $341,000.

Several other large investors have also recently bought and sold shares of the stock. Rafferty Asset Management LLC boosted its holdings in Revolution Medicines by 17.6% in the 3rd quarter. Rafferty Asset Management LLC now owns 179,833 shares of the company’s stock valued at $8,398,000 after purchasing an additional 26,855 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Revolution Medicines by 25.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 58,375 shares of the company’s stock worth $2,726,000 after purchasing an additional 11,700 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Revolution Medicines by 52.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,513,967 shares of the company’s stock worth $117,402,000 after purchasing an additional 864,563 shares during the period. US Bancorp DE raised its position in shares of Revolution Medicines by 170.3% during the third quarter. US Bancorp DE now owns 3,168 shares of the company’s stock valued at $148,000 after buying an additional 1,996 shares during the last quarter. Finally, Catalyst Financial Partners LLC bought a new stake in shares of Revolution Medicines in the third quarter valued at about $225,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RVMD has been the topic of a number of recent research reports. UBS Group began coverage on Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating on the stock. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Evercore raised Revolution Medicines to a “strong-buy” rating in a report on Wednesday, February 25th. Wolfe Research assumed coverage on Revolution Medicines in a research report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $78.94.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 75,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total value of $7,542,000.00. Following the sale, the chief operating officer owned 141,053 shares in the company, valued at approximately $14,184,289.68. The trade was a 34.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Michael Kelsey sold 5,447 shares of the company’s 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 completion of the sale, the insider directly owned 278,600 shares in the company, valued at approximately $21,402,052. The trade was a 1.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 149,792 shares of company stock valued at $14,379,040. 8.20% of the stock is currently owned by insiders.

Revolution Medicines Stock Down 1.2%

NASDAQ RVMD opened at $98.40 on Monday. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $124.49. The company has a market capitalization of $19.50 billion, a price-to-earnings ratio of -16.65 and a beta of 0.99. The stock’s 50 day moving average is $101.08 and its two-hundred day moving average is $73.09. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period last year, the business earned ($1.12) earnings per share. Equities analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

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.