Revolution Medicines, Inc. $RVMD Shares Bought by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 13.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,845,013 shares of the company’s stock after buying an additional 331,046 shares during the quarter. Revolution Medicines accounts for approximately 0.9% of Westfield Capital Management Co. LP’s portfolio, making the stock its 16th largest holding. Westfield Capital Management Co. LP owned 1.47% of Revolution Medicines worth $226,605,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after purchasing an additional 1,056,792 shares during the last quarter. Farallon Capital Management LLC grew its position in shares of Revolution Medicines by 2.1% in the third quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock valued at $683,020,000 after purchasing an additional 300,000 shares during the last quarter. Baker BROS. Advisors LP grew its position in shares of Revolution Medicines by 1.0% in the third quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after purchasing an additional 90,385 shares during the last quarter. Nextech Invest Ltd. grew its position 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 valued at $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP grew its position in shares of Revolution Medicines by 2.1% in the third quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock valued at $290,628,000 after purchasing an additional 130,000 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Jack Anders sold 2,753 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $273,868.44. Following the completion of the sale, the chief financial officer owned 125,512 shares of the company’s stock, valued at $12,485,933.76. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 120,000 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the sale, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. The trade was a 30.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 148,592 shares of company stock valued at $20,855,132. 7.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RVMD has been the topic of several research reports. Oppenheimer increased their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday. UBS Group initiated coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They issued a “buy” rating on the stock. Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. HC Wainwright increased their price target on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $123.72.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $155.69 on Friday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The company has a market cap of $33.10 billion, a P/E ratio of -22.02 and a beta of 1.40. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $166.50. The firm’s 50 day moving average is $134.25 and its two-hundred day moving average is $107.37.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the prior year, the firm earned ($1.13) EPS. Analysts expect that Revolution Medicines, Inc. will post -7.83 EPS for the current 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.