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

Westfield Capital Management Co. LP boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 52.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,513,967 shares of the company’s stock after purchasing an additional 864,563 shares during the quarter. Westfield Capital Management Co. LP owned 1.30% of Revolution Medicines worth $117,402,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of RVMD. Nextech Invest Ltd. increased its holdings in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the period. Bellevue Group AG grew its position in Revolution Medicines by 4.7% during the second quarter. Bellevue Group AG now owns 4,579,300 shares of the company’s stock worth $168,472,000 after buying an additional 205,000 shares in the last quarter. Norges Bank bought a new position in Revolution Medicines during the second quarter valued at about $62,584,000. Vestal Point Capital LP acquired a new position in Revolution Medicines in the 2nd quarter valued at approximately $44,148,000. Finally, Candriam S.C.A. raised its holdings in Revolution Medicines by 20.7% in the 3rd quarter. Candriam S.C.A. now owns 868,724 shares of the company’s stock valued at $40,569,000 after acquiring an additional 149,211 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Stock Down 1.5%

Shares of NASDAQ RVMD opened at $103.24 on Thursday. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $124.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05. The business has a fifty day moving average of $98.19 and a two-hundred day moving average of $69.66. The stock has a market cap of $19.96 billion, a PE ratio of -19.97 and a beta of 1.01.

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

Analyst Ratings Changes

Several analysts have recently weighed in on RVMD shares. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a report on Friday, January 9th. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Royal Bank Of Canada began coverage on shares of Revolution Medicines in a research note on Monday, November 3rd. They set an “outperform” rating and a $77.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus price target of $78.94.

Insider Activity

In other news, insider Mark A. Goldsmith sold 15,394 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 232,469 shares of the company’s stock, valued at $17,858,268.58. The trade was a 6.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Margaret A. Horn sold 75,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer owned 141,053 shares in the company, valued at approximately $14,184,289.68. This trade represents a 34.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 113,792 shares of company stock valued at $10,734,640 over the last three months. 8.20% of the stock is owned by corporate insiders.

About Revolution Medicines

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.