VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Revolution Medicines, Inc. $RVMD

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,900 shares of the company’s stock, valued at approximately $311,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in Revolution Medicines by 2.1% in the third quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock valued at $683,020,000 after acquiring an additional 300,000 shares during the period. Baker BROS. Advisors LP lifted its holdings in Revolution Medicines by 1.0% in the third quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after acquiring an additional 90,385 shares during the period. Nextech Invest Ltd. lifted its holdings in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after acquiring an additional 1,304,347 shares during the period. Finally, Paradigm Biocapital Advisors LP increased its position in shares of Revolution Medicines by 2.1% in the third quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock valued at $290,628,000 after buying an additional 130,000 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insiders Place Their Bets

In other news, insider Xiaolin Wang sold 2,010 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $199,954.80. Following the completion of the sale, the insider directly owned 116,063 shares of the company’s stock, valued at $11,545,947.24. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,302 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $427,962.96. Following the transaction, the insider directly owned 295,398 shares of the company’s stock, valued at approximately $29,386,193.04. This represents a 1.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 184,592 shares of company stock worth $24,499,532. Corporate insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several research analyst reports. Guggenheim upped their target price on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. UBS Group initiated coverage on Revolution Medicines in a report on Friday, February 27th. They issued a “buy” rating for the company. Benchmark restated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. HC Wainwright reiterated a “buy” rating on shares of Revolution Medicines in a report on Wednesday, April 22nd. Finally, Evercore reissued an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and an average price target of $108.88.

Revolution Medicines Trading Up 2.0%

Shares of RVMD stock opened at $147.30 on Wednesday. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $120.60 and its two-hundred day moving average is $99.54. The company has a market capitalization of $31.32 billion, a P/E ratio of -20.83 and a beta of 1.41. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $155.70.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business earned ($1.13) earnings per share. Equities analysts forecast that Revolution Medicines, Inc. will post -7.75 EPS for the current year.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.