Revolution Medicines, Inc. $RVMD Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 10.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,308 shares of the company’s stock after purchasing an additional 5,478 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Revolution Medicines were worth $2,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its position in Revolution Medicines by 29.2% in the third quarter. PNC Financial Services Group Inc. now owns 9,941 shares of the company’s stock valued at $464,000 after buying an additional 2,246 shares during the last quarter. S&CO Inc. raised its stake in shares of Revolution Medicines by 56.5% in the 3rd quarter. S&CO Inc. now owns 22,171 shares of the company’s stock valued at $1,035,000 after acquiring an additional 8,000 shares during the period. Profund Advisors LLC raised its stake in shares of Revolution Medicines by 21.6% in the 3rd quarter. Profund Advisors LLC now owns 37,079 shares of the company’s stock valued at $1,732,000 after acquiring an additional 6,585 shares during the period. Candriam S.C.A. lifted its holdings in shares of Revolution Medicines by 20.7% in the 3rd quarter. Candriam S.C.A. now owns 868,724 shares of the company’s stock worth $40,569,000 after acquiring an additional 149,211 shares during the last quarter. Finally, Fishman Jay A Ltd. MI purchased a new position in shares of Revolution Medicines during the 3rd quarter worth approximately $234,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Trading Down 0.9%

NASDAQ:RVMD opened at $101.83 on Friday. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $124.49. The firm has a market cap of $19.69 billion, a PE ratio of -19.70 and a beta of 1.01. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $96.62 and a 200 day moving average price of $68.23.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RVMD shares. HC Wainwright boosted their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Wolfe Research began coverage on Revolution Medicines in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Thursday, January 22nd. Finally, Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and an average price target of $78.94.

Insider Buying and Selling

In other news, insider Stephen Michael Kelsey sold 5,447 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $418,438.54. Following the completion of the transaction, the insider directly owned 278,600 shares of the company’s stock, valued at approximately $21,402,052. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $98.00, for a total transaction of $980,000.00. Following the sale, the chief financial officer owned 108,065 shares in the company, valued at $10,590,370. The trade was a 8.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 173,792 shares of company stock worth $15,239,440. 8.20% of the stock is owned by corporate insiders.

Revolution Medicines Company 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.