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

Westfield Capital Management Co. LP lifted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,845,013 shares of the company’s stock after acquiring an additional 331,046 shares during the period. Revolution Medicines makes up 0.9% of Westfield Capital Management Co. LP’s portfolio, making the stock its 16th biggest position. Westfield Capital Management Co. LP’s holdings in Revolution Medicines were worth $226,605,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC grew its holdings in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares in the last quarter. Indiana Trust & Investment Management Co acquired a new stake in Revolution Medicines during the 4th quarter valued at $32,000. Torren Management LLC acquired a new stake in Revolution Medicines during the 4th quarter valued at $33,000. Darwin Wealth Management LLC acquired a new stake in Revolution Medicines during the 4th quarter valued at $40,000. Finally, Allworth Financial LP grew its holdings in Revolution Medicines by 57.2% during the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Stephen Michael Kelsey sold 4,302 shares of Revolution Medicines stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the completion of the transaction, the insider directly owned 295,398 shares of the company’s stock, valued at approximately $29,386,193.04. The trade was a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the transaction, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. This trade represents a 30.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 148,592 shares of company stock worth $20,855,132. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $155.69 on Friday. The firm has a market cap of $33.10 billion, a PE ratio of -22.02 and a beta of 1.40. The firm’s 50-day simple moving average is $134.25 and its 200-day simple moving average is $107.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business earned ($1.13) EPS. Equities analysts forecast that Revolution Medicines, Inc. will post -7.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

RVMD has been the subject of a number of recent analyst reports. Truist Financial initiated coverage on shares of Revolution Medicines in a report on Monday, May 18th. They set a “buy” rating and a $179.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Benchmark restated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Finally, Evercore restated an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Three 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. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $123.72.

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.