Westfield Capital Management Co. LP Acquires 864,563 Shares of Revolution Medicines, Inc. $RVMD

Westfield Capital Management Co. LP increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 52.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,513,967 shares of the company’s stock after buying an additional 864,563 shares during the period. Westfield Capital Management Co. LP’s holdings in Revolution Medicines were worth $117,402,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Nextech Invest Ltd. raised its stake in shares of Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Millennium Management LLC grew its stake in shares of Revolution Medicines by 681.8% during the first quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock valued at $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 increased its holdings in shares of Revolution Medicines by 14.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after purchasing an additional 37,345 shares in the last quarter. CWM LLC raised its position in Revolution Medicines by 171.3% in the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after purchasing an additional 579 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in Revolution Medicines in the 2nd quarter worth approximately $73,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $103.24 on Thursday. The firm’s 50 day simple moving average is $98.19 and its 200 day simple moving average is $69.66. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $124.49. The company has a market capitalization of $19.96 billion, a price-to-earnings ratio of -19.97 and a beta of 1.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same quarter in the previous year, the company earned ($1.12) EPS. As a group, sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Activity

In other Revolution Medicines news, insider Mark A. Goldsmith sold 15,394 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total value of $1,182,567.08. Following the completion of the transaction, the insider directly owned 232,469 shares of the company’s stock, valued at approximately $17,858,268.58. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Margaret A. Horn sold 75,000 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $100.56, for a total value of $7,542,000.00. Following the completion of the sale, the chief operating officer owned 141,053 shares of the company’s stock, valued at $14,184,289.68. This trade represents a 34.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 113,792 shares of company stock worth $10,734,640 in the last 90 days. Corporate insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RVMD shares. Wolfe Research began coverage on Revolution Medicines in a research report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price objective on the stock. Evercore raised Revolution Medicines to a “strong-buy” rating in a research note on Wednesday. Royal Bank Of Canada initiated coverage on Revolution Medicines in a report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price target on the stock. HC Wainwright boosted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, UBS Group upgraded shares of Revolution Medicines to a “strong-buy” rating in a research report on Thursday, December 4th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and an average price target of $78.94.

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.