Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 43.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 60,842 shares of the company’s stock after buying an additional 18,564 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Revolution Medicines worth $1,745,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Revolution Medicines by 101.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock valued at $78,000 after acquiring an additional 1,409 shares during the period. Fred Alger Management LLC purchased a new position in Revolution Medicines in the third quarter valued at about $126,000. Federated Hermes Inc. acquired a new position in shares of Revolution Medicines during the third quarter worth about $126,000. Strs Ohio boosted its position in shares of Revolution Medicines by 270.6% in the third quarter. Strs Ohio now owns 6,300 shares of the company’s stock worth $174,000 after buying an additional 4,600 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at about $206,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Stock Down 1.5 %

Shares of Revolution Medicines stock opened at $38.31 on Thursday. The business has a 50-day moving average price of $33.59 and a 200 day moving average price of $28.45. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $40.21. The firm has a market cap of $6.53 billion, a P/E ratio of -10.16 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Monday, February 26th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The firm had revenue of $0.74 million during the quarter, compared to analyst estimates of $1.20 million. During the same period last year, the business earned ($0.63) EPS. The company’s revenue was down 95.2% on a year-over-year basis. As a group, equities research analysts anticipate that Revolution Medicines, Inc. will post -3.18 earnings per share for the current year.

Analysts Set New Price Targets

RVMD has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $46.00 price target (up from $36.00) on shares of Revolution Medicines in a research report on Monday, April 8th. Wedbush lifted their price target on shares of Revolution Medicines from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $36.00 to $48.00 in a report on Wednesday, April 10th. Piper Sandler started coverage on Revolution Medicines in a research note on Monday, March 11th. They set an “overweight” rating and a $43.00 target price for the company. Finally, Oppenheimer boosted their price target on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $41.20.

Insiders Place Their Bets

In related news, General Counsel Jeff Cislini sold 1,252 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the sale, the general counsel now owns 55,874 shares of the company’s stock, valued at approximately $1,764,500.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, General Counsel Jeff Cislini sold 1,252 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the transaction, the general counsel now owns 55,874 shares in the company, valued at approximately $1,764,500.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jack Anders sold 10,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the completion of the sale, the chief financial officer now directly owns 101,959 shares in the company, valued at $4,081,418.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,705 shares of company stock valued at $1,031,049. Company insiders own 8.50% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.