New York State Common Retirement Fund Buys 7,244 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

New York State Common Retirement Fund grew its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,601 shares of the company’s stock after purchasing an additional 7,244 shares during the quarter. New York State Common Retirement Fund’s holdings in Revolution Medicines were worth $2,782,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RVMD. Quarry LP bought a new position in shares of Revolution Medicines in the third quarter valued at approximately $82,000. KBC Group NV lifted its holdings in shares of Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after purchasing an additional 368 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $173,000. Everence Capital Management Inc. bought a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $203,000. Finally, CIBC Asset Management Inc bought a new position in shares of Revolution Medicines in the third quarter valued at approximately $216,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Up 4.2 %

Revolution Medicines stock opened at $40.74 on Friday. Revolution Medicines, Inc. has a 52 week low of $29.00 and a 52 week high of $62.40. The business has a 50-day simple moving average of $42.15 and a 200 day simple moving average of $46.20. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of -11.35 and a beta of 1.45.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insiders Place Their Bets

In other Revolution Medicines news, CFO Jack Anders sold 2,635 shares of Revolution Medicines stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $119,629.00. Following the completion of the sale, the chief financial officer now owns 96,470 shares of the company’s stock, valued at $4,379,738. The trade was a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thilo Schroeder purchased 1,304,347 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were purchased at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the purchase, the director now owns 2,096,612 shares of the company’s stock, valued at approximately $96,444,152. The trade was a 164.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 18,678 shares of company stock valued at $847,981 over the last 90 days. Insiders own 8.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RVMD. Wedbush reiterated an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a report on Thursday. Needham & Company LLC dropped their price target on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler lifted their price target on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. HC Wainwright lifted their price target on Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their price target on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $66.23.

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.