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

Strs Ohio grew its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 54.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,700 shares of the company’s stock after buying an additional 3,400 shares during the period. Strs Ohio’s holdings in Revolution Medicines were worth $278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. lifted its position in Revolution Medicines by 101.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock worth $78,000 after acquiring an additional 1,409 shares during the period. Fred Alger Management LLC purchased a new stake in Revolution Medicines in the third quarter valued at approximately $126,000. Federated Hermes Inc. purchased a new stake in Revolution Medicines in the third quarter valued at approximately $126,000. Clear Harbor Asset Management LLC acquired a new position in Revolution Medicines in the 4th quarter worth approximately $206,000. Finally, HighTower Advisors LLC purchased a new position in Revolution Medicines during the 3rd quarter worth approximately $297,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on RVMD. Piper Sandler initiated coverage on shares of Revolution Medicines in a research note on Monday, March 11th. They issued an “overweight” rating and a $43.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $46.00 price objective (up previously from $36.00) on shares of Revolution Medicines in a report on Monday, April 8th. Oppenheimer raised their target price on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Wedbush boosted their price target on Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Finally, Bank of America raised shares of Revolution Medicines from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $31.00 to $34.00 in a research note on Friday, January 5th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $41.20.

Insiders Place Their Bets

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 2,123 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $67,044.34. Following the completion of the sale, the insider now directly owns 270,909 shares of the company’s stock, valued at approximately $8,555,306.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Revolution Medicines news, insider Stephen Michael Kelsey sold 2,123 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total value of $67,044.34. Following the transaction, the insider now directly owns 270,909 shares in the company, valued at approximately $8,555,306.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark A. Goldsmith sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $35.48, for a total transaction of $266,100.00. Following the sale, the insider now owns 452,879 shares of the company’s stock, valued at approximately $16,068,146.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,705 shares of company stock valued at $630,749. Insiders own 8.50% of the company’s stock.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $37.11 on Tuesday. The stock’s 50 day simple moving average is $32.48 and its 200-day simple moving average is $28.10. The company has a market cap of $6.11 billion, a PE 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.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Monday, February 26th. The company reported ($1.14) earnings per share 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 the consensus estimate of $1.20 million. During the same quarter in the prior year, the firm earned ($0.63) EPS. The business’s quarterly revenue was down 95.2% compared to the same quarter last year. On average, equities research analysts anticipate that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

Revolution Medicines 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.