State of New Jersey Common Pension Fund D Sells 2,861 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

State of New Jersey Common Pension Fund D cut its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,184 shares of the company’s stock after selling 2,861 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Revolution Medicines were worth $2,185,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares during the period. Headlands Technologies LLC lifted its stake in shares of Revolution Medicines by 140.9% during 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. Values First Advisors Inc. bought a new position in Revolution Medicines in the 3rd quarter worth approximately $93,000. Allspring Global Investments Holdings LLC purchased a new position in Revolution Medicines in the 1st quarter valued at approximately $104,000. Finally, EntryPoint Capital LLC bought a new stake in Revolution Medicines during the 1st quarter valued at $107,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Guggenheim lifted their price target on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Piper Sandler upped their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Oppenheimer raised their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Needham & Company LLC increased their target price on shares of Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Barclays boosted their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $61.00.

Insider Activity

In other news, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the completion of the sale, the insider now directly owns 300,170 shares in the company, valued at approximately $15,116,561.20. This represents a 9.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 50,000 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.34, for a total value of $2,517,000.00. Following the transaction, the chief operating officer now owns 132,320 shares in the company, valued at approximately $6,660,988.80. This represents a 27.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by company insiders.

Revolution Medicines Stock Performance

RVMD stock opened at $57.37 on Friday. The firm has a market cap of $9.65 billion, a P/E ratio of -16.16 and a beta of 1.40. The firm’s fifty day moving average is $48.59 and its 200 day moving average is $43.72. Revolution Medicines, Inc. has a 52 week low of $20.51 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter in the prior year, the company earned ($0.99) earnings per share. As a group, analysts forecast that Revolution Medicines, Inc. will post -3.51 EPS for the current year.

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.