State of New Jersey Common Pension Fund D Sells 825 Shares of Revolution Medicines, Inc. $RVMD

State of New Jersey Common Pension Fund D lowered its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 52,830 shares of the company’s stock after selling 825 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Revolution Medicines were worth $1,944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Revolution Medicines by 11.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company’s stock valued at $232,000 after purchasing an additional 615 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Revolution Medicines by 64.7% during the second quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock valued at $2,146,000 after buying an additional 22,906 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Revolution Medicines during the first quarter valued at approximately $502,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Revolution Medicines by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company’s stock valued at $3,870,000 after acquiring an additional 6,877 shares in the last quarter. Finally, Atle Fund Management AB raised its holdings in shares of Revolution Medicines by 49.7% during the second quarter. Atle Fund Management AB now owns 82,275 shares of the company’s stock valued at $3,027,000 after acquiring an additional 27,314 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Down 0.1%

NASDAQ RVMD opened at $58.84 on Friday. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The stock has a market cap of $11.00 billion, a P/E ratio of -13.08 and a beta of 1.27. The stock’s fifty day moving average price is $46.38 and its 200-day moving average price is $41.17. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.37). During the same period in the previous year, the firm earned ($0.81) earnings per share. Revolution Medicines’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 2,320 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $106,302.40. Following the sale, the chief financial officer directly owned 110,994 shares of the company’s stock, valued at $5,085,745.08. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark A. Goldsmith sold 13,411 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $614,492.02. Following the sale, the insider directly owned 452,309 shares in the company, valued at $20,724,798.38. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 188,033 shares of company stock valued at $8,456,208 over the last three months. 8.20% of the stock is owned by insiders.

Analyst Ratings Changes

RVMD has been the subject of a number of recent analyst reports. Wedbush restated an “outperform” rating and set a $77.00 target price on shares of Revolution Medicines in a report on Friday, October 17th. Needham & Company LLC upped their target price on Revolution Medicines from $56.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Truist Financial initiated coverage on Revolution Medicines in a report on Friday, September 5th. They set a “buy” rating and a $99.00 target price for the company. Mizuho initiated coverage on Revolution Medicines in a report on Tuesday, October 21st. They set an “outperform” rating and a $90.00 target price for the company. Finally, Wells Fargo & Company upped their target price on Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $77.50.

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.