Public Employees Retirement System of Ohio Makes New $1.98 Million Investment in Revolution Medicines, Inc. $RVMD

Key Points

• The Public Employees Retirement System of Ohio invested approximately $1.98 million in Revolution Medicines, acquiring 53,807 shares of the company's stock during the second quarter.
• Revolution Medicines has a market capitalization of $8.54 billion and recently reported a quarterly earnings loss of ($1.31) per share, missing analysts' estimates.
• Several analysts have rated Revolution Medicines with buy or overweight ratings, with a consensus target price of approximately $74.64.

Public Employees Retirement System of Ohio acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,807 shares of the company's stock, valued at approximately $1,980,000.

Several other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in Revolution Medicines by 2.1% during the first quarter. Principal Financial Group Inc. now owns 12,792 shares of the company's stock worth $452,000 after buying an additional 259 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Revolution Medicines by 11.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock worth $232,000 after buying an additional 615 shares during the last quarter. GF Fund Management CO. LTD. raised its holdings in Revolution Medicines by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock worth $152,000 after buying an additional 775 shares during the last quarter. Xponance Inc. raised its holdings in Revolution Medicines by 6.7% during the first quarter. Xponance Inc. now owns 12,937 shares of the company's stock worth $457,000 after buying an additional 810 shares during the last quarter. Finally, Avanza Fonder AB raised its holdings in Revolution Medicines by 28.2% during the second quarter. Avanza Fonder AB now owns 3,688 shares of the company's stock worth $136,000 after buying an additional 811 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Price Performance

RVMD opened at $45.70 on Friday. The firm has a market cap of $8.54 billion, a P/E ratio of -10.16 and a beta of 1.27. The firm has a 50-day moving average of $39.84 and a 200 day moving average of $38.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.37). The business's revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.81) EPS. On average, research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on RVMD shares. Wells Fargo & Company upped their price objective on shares of Revolution Medicines from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Truist Financial initiated coverage on shares of Revolution Medicines in a research note on Friday, September 5th. They issued a "buy" rating and a $99.00 target price for the company. Raymond James Financial initiated coverage on shares of Revolution Medicines in a research note on Friday, September 12th. They issued a "strong-buy" rating and a $72.00 target price for the company. Needham & Company LLC upped their target price on shares of Revolution Medicines from $56.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. Finally, Wedbush upped their target price on shares of Revolution Medicines from $73.00 to $77.00 and gave the stock an "outperform" rating in a research note on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $74.64.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 5,238 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total transaction of $210,410.46. Following the completion of the transaction, the chief financial officer owned 113,314 shares in the company, valued at $4,551,823.38. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 4,775 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $218,790.50. Following the transaction, the chief operating officer owned 145,900 shares of the company's stock, valued at $6,685,138. This represents a 3.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,033 shares of company stock valued at $7,242,708 in the last 90 days. 8.20% of the stock is currently owned by company insiders.

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.

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