State of New Jersey Common Pension Fund D Has $1.98 Million Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

State of New Jersey Common Pension Fund D decreased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 44.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,045 shares of the company’s stock after selling 40,730 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Revolution Medicines were worth $1,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Headlands Technologies LLC raised its position in shares of Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after buying an additional 885 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Revolution Medicines in the 1st quarter valued at approximately $104,000. EntryPoint Capital LLC acquired a new position in shares of Revolution Medicines in the 1st quarter valued at approximately $107,000. Nisa Investment Advisors LLC raised its position in shares of Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 320 shares in the last quarter. Finally, Natixis acquired a new position in shares of Revolution Medicines in the 1st quarter valued at approximately $196,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Price Performance

RVMD opened at $45.42 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $48.61. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of -12.11 and a beta of 1.43. The company’s 50 day moving average price is $43.98 and its two-hundred day moving average price is $39.18.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.81 million. During the same quarter last year, the firm earned ($0.92) earnings per share. Revolution Medicines’s revenue was down 73.8% on a year-over-year basis. As a group, equities research analysts predict that Revolution Medicines, Inc. will post -3.47 EPS for the current year.

Insider Transactions at Revolution Medicines

In other news, General Counsel Jeff Cislini sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total value of $76,940.00. Following the transaction, the general counsel now owns 49,487 shares in the company, valued at approximately $1,903,764.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Jeff Cislini sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total value of $76,940.00. Following the transaction, the general counsel now owns 49,487 shares in the company, valued at approximately $1,903,764.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sushil Patel sold 2,155 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $44.00, for a total transaction of $94,820.00. Following the completion of the transaction, the director now owns 19,948 shares in the company, valued at approximately $877,712. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,421 shares of company stock worth $2,637,077. Company insiders own 8.00% of the company’s stock.

Wall Street Analyst Weigh In

RVMD has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and set a $59.00 price target on shares of Revolution Medicines in a report on Thursday, August 8th. Needham & Company LLC decreased their price target on shares of Revolution Medicines from $62.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a report on Monday, July 8th. They set a “buy” rating and a $63.00 price target on the stock. Barclays lifted their price target on shares of Revolution Medicines from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Finally, Oppenheimer lifted their price target on shares of Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $53.45.

About Revolution Medicines

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.