Fisher Asset Management LLC Purchases 233,752 Shares of Revolution Medicines, Inc. $RVMD

Fisher Asset Management LLC lifted its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 3,199.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 241,057 shares of the company’s stock after purchasing an additional 233,752 shares during the period. Fisher Asset Management LLC owned 0.12% of Revolution Medicines worth $19,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC increased its stake in shares of Revolution Medicines by 1,002.8% during the fourth 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. Indiana Trust & Investment Management Co bought a new position in Revolution Medicines during the 4th quarter worth $32,000. Torren Management LLC bought a new position in Revolution Medicines during the 4th quarter worth $33,000. Darwin Wealth Management LLC bought a new position in Revolution Medicines during the 4th quarter worth $40,000. Finally, Allworth Financial LP increased its stake in Revolution Medicines by 57.2% during the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after acquiring an additional 210 shares during the period. Institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on RVMD. Evercore restated an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Wedbush raised their price objective on Revolution Medicines to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Benchmark restated an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Sanford C. Bernstein began coverage on Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective on the stock. Finally, Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $111.35.

Insider Activity at Revolution Medicines

In related news, insider Xiaolin Wang sold 2,010 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $199,954.80. Following the sale, the insider owned 116,063 shares of the company’s stock, valued at $11,545,947.24. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Margaret A. Horn sold 4,583 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $455,916.84. Following the sale, the chief operating officer directly owned 157,570 shares in the company, valued at approximately $15,675,063.60. This trade represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 184,592 shares of company stock worth $24,499,532 over the last 90 days. 8.20% of the stock is currently owned by company insiders.

Revolution Medicines Trading Down 1.2%

NASDAQ RVMD opened at $153.00 on Thursday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $156.24. The company has a market cap of $32.53 billion, a price-to-earnings ratio of -21.64 and a beta of 1.41. The business’s fifty day moving average is $127.16 and its 200 day moving average is $103.47.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the prior year, the business earned ($1.13) earnings per share. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -7.75 EPS 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.