Police & Firemen s Retirement System of New Jersey Boosts Position in Revolution Medicines, Inc. $RVMD

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 79.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,597 shares of the company’s stock after buying an additional 28,954 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Revolution Medicines were worth $2,413,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Revolution Medicines by 70.1% during the second quarter. PNC Financial Services Group Inc. now owns 7,695 shares of the company’s stock worth $283,000 after acquiring an additional 3,171 shares during the period. S&CO Inc. increased its holdings in Revolution Medicines by 54.5% during the 2nd quarter. S&CO Inc. now owns 14,171 shares of the company’s stock worth $521,000 after purchasing an additional 5,000 shares during the period. Fox Run Management L.L.C. purchased a new position in Revolution Medicines during the 2nd quarter worth $673,000. Amalgamated Bank raised its position in Revolution Medicines by 49.6% during the 2nd quarter. Amalgamated Bank now owns 8,780 shares of the company’s stock valued at $323,000 after purchasing an additional 2,910 shares in the last quarter. Finally, a16z Perennial Management L.P. purchased a new stake in shares of Revolution Medicines in the 2nd quarter worth $67,000. 94.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RVMD shares. Wolfe Research started coverage on Revolution Medicines in a research note on Tuesday. They set an “outperform” rating and a $75.00 price target on the stock. Truist Financial initiated coverage on shares of Revolution Medicines in a report on Friday, September 5th. They set a “buy” rating and a $99.00 target price on the stock. Stifel Nicolaus began coverage on shares of Revolution Medicines in a report on Wednesday, October 15th. They issued a “buy” rating and a $85.00 price target for the company. Raymond James Financial upped their price target on shares of Revolution Medicines from $72.00 to $76.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 17th. Finally, Wedbush lifted their price objective on shares of Revolution Medicines from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and a consensus price target of $78.50.

Revolution Medicines Stock Performance

RVMD stock opened at $70.58 on Wednesday. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $70.92. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of -13.65 and a beta of 1.25. 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 firm has a 50-day simple moving average of $52.34 and a two-hundred day simple moving average of $43.34.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same period in the previous year, the company posted ($0.94) EPS. On average, equities analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insider Activity

In related news, CFO Jack Anders sold 2,320 shares of the company’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $106,302.40. Following the transaction, the chief financial officer directly owned 110,994 shares of the company’s stock, valued at $5,085,745.08. This represents a 2.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark A. Goldsmith sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $65.07, for a total value of $1,301,400.00. Following the completion of the sale, the insider directly owned 247,863 shares of the company’s stock, valued at approximately $16,128,445.41. This represents a 7.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 238,033 shares of company stock worth $11,566,908. Company insiders own 8.20% 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.