Revolution Medicines, Inc. $RVMD Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D cut its stake in Revolution Medicines by 14.1% in Q4, selling 8,223 shares and ending the quarter with 50,085 shares worth about $3.99 million.
• Large institutions added to positions—Vanguard now owns 16,719,886 shares (~$1.33B) and UBS boosted holdings 183.6% to 3,087,937 shares (~$245.95M)—contributing to roughly 94.34% institutional ownership.
• Insiders sold 184,592 shares (~$24.5M) in the last quarter (including Mark Goldsmith’s 120,000-share sale for ~$18.01M), while the company reported a Q4 EPS miss of ($1.86) vs. ($1.56) consensus and carries a market cap of about $31.44B; analysts still show a consensus Buy rating with an average target of $78.94.

State of New Jersey Common Pension Fund D reduced its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 14.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,085 shares of the company's stock after selling 8,223 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Revolution Medicines were worth $3,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Torren Management LLC purchased a new position in Revolution Medicines during the 4th quarter valued at about $33,000. M&T Bank Corp purchased a new position in Revolution Medicines during the 4th quarter valued at about $642,000. UBS Group AG increased its holdings in Revolution Medicines by 183.6% during the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company's stock valued at $245,954,000 after acquiring an additional 1,998,972 shares in the last quarter. Vanguard Group Inc. increased its holdings in Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company's stock valued at $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new position in Revolution Medicines during the 4th quarter valued at about $992,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $147.90 on Tuesday. The company has a market cap of $31.44 billion, a PE ratio of -25.03 and a beta of 1.41. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $155.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.14 and a quick ratio of 7.14. The company has a 50-day simple moving average of $110.80 and a 200-day simple moving average of $92.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.30). During the same period last year, the firm posted ($1.12) EPS. On average, equities analysts anticipate that Revolution Medicines, Inc. will post -7.42 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, COO Margaret A. Horn sold 4,583 shares of Revolution Medicines stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $455,916.84. Following the completion of the sale, the chief operating officer directly owned 157,570 shares in the company, valued at $15,675,063.60. The trade was a 2.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the sale, the insider owned 276,698 shares of the company's stock, valued at approximately $41,529,602.82. This trade represents a 30.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 184,592 shares of company stock valued at $24,499,532. Corporate insiders own 8.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a report on Monday, March 16th. They set a "buy" rating for the company. Truist Financial upgraded shares of Revolution Medicines to a "strong-buy" rating in a report on Monday, April 27th. Stifel Nicolaus restated a "buy" rating on shares of Revolution Medicines in a report on Monday, April 20th. Wedbush restated an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Finally, HC Wainwright restated a "buy" rating on shares of Revolution Medicines in a report on Wednesday, April 22nd. Four research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Revolution Medicines currently has a consensus rating of "Buy" and an average target price of $78.94.

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.

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