Strs Ohio Makes New $686,000 Investment in Revolution Medicines, Inc. $RVMD

Strs Ohio purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,400 shares of the company’s stock, valued at approximately $686,000.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in Revolution Medicines by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 12,792 shares of the company’s stock valued at $452,000 after purchasing an additional 259 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Revolution Medicines by 11.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company’s stock valued at $232,000 after acquiring an additional 615 shares in the last quarter. GF Fund Management CO. LTD. boosted its position in Revolution Medicines by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company’s stock worth $152,000 after acquiring an additional 775 shares during the period. Xponance Inc. grew its stake in shares of Revolution Medicines by 6.7% in the first quarter. Xponance Inc. now owns 12,937 shares of the company’s stock worth $457,000 after purchasing an additional 810 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Revolution Medicines by 17.1% during the fourth quarter. Mackenzie Financial Corp now owns 6,055 shares of the company’s stock valued at $265,000 after purchasing an additional 885 shares during the period. Institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In other Revolution Medicines news, CFO Jack Anders sold 2,320 shares of Revolution Medicines stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $106,302.40. Following the completion of the sale, the chief financial officer owned 110,994 shares of the company’s stock, valued at $5,085,745.08. This trade represents a 2.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Margaret A. Horn sold 4,775 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $218,790.50. Following the transaction, the chief operating officer owned 145,900 shares in the company, valued at approximately $6,685,138. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,033 shares of company stock worth $7,242,708. Insiders own 8.20% of the company’s stock.

Revolution Medicines Stock Down 3.7%

Shares of Revolution Medicines stock opened at $43.54 on Friday. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $62.40. The company has a market cap of $8.14 billion, a P/E ratio of -9.68 and a beta of 1.12. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $38.65 and a 200 day moving average price of $38.37.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.37). The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.81) earnings per share. As a group, analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RVMD. Lifesci Capital assumed coverage on shares of Revolution Medicines in a report on Monday, August 18th. They issued an “outperform” rating and a $80.00 price objective for the company. The Goldman Sachs Group boosted their price target on shares of Revolution Medicines from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Truist Financial assumed coverage on shares of Revolution Medicines in a report on Friday, September 5th. They issued a “buy” rating and a $99.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Finally, Needham & Company LLC upped their target price on Revolution Medicines from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $73.67.

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.