Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Bought by Strs Ohio

Strs Ohio lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 54.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,700 shares of the company’s stock after purchasing an additional 3,400 shares during the period. Strs Ohio’s holdings in Revolution Medicines were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Handelsbanken Fonder AB lifted its stake in shares of Revolution Medicines by 6.0% in the third quarter. Handelsbanken Fonder AB now owns 14,200 shares of the company’s stock valued at $393,000 after purchasing an additional 800 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Revolution Medicines by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 420,366 shares of the company’s stock valued at $11,636,000 after acquiring an additional 8,825 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Revolution Medicines by 15.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company’s stock worth $462,000 after acquiring an additional 2,199 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Revolution Medicines by 106.2% in the 3rd quarter. TD Asset Management Inc now owns 271,824 shares of the company’s stock worth $7,524,000 after acquiring an additional 140,012 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its stake in 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 purchasing an additional 1,409 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $35.48, for a total transaction of $266,100.00. Following the completion of the transaction, the insider now owns 452,879 shares of the company’s stock, valued at $16,068,146.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Mark A. Goldsmith sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $35.48, for a total transaction of $266,100.00. Following the completion of the sale, the insider now directly owns 452,879 shares of the company’s stock, valued at approximately $16,068,146.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jack Anders sold 1,261 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $39,822.38. Following the completion of the transaction, the chief financial officer now directly owns 101,959 shares in the company, valued at $3,219,865.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,705 shares of company stock valued at $630,749. Insiders own 8.50% of the company’s stock.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $37.11 on Tuesday. The firm has a market cap of $6.11 billion, a P/E ratio of -9.84 and a beta of 1.54. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $38.73. The firm’s 50 day moving average price is $32.48 and its 200 day moving average price is $28.10.

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

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.