Revolution Medicines, Inc. $RVMD Stock: North Dakota State Investment Board Grows Holdings

Key Points

• North Dakota State Investment Board increased its Revolution Medicines stake by 210.2% in the third quarter to 16,547 shares valued at approximately $3.4 million. Institutional investors collectively own 94.34% of RVMD.
• Insiders sold 290,991 shares worth about $59.4 million over the past three months, including significant sales by Stephen Kelsey and Alan Sandler.
• Analysts remain broadly optimistic, with a “Moderate Buy” consensus and an average price target of $242.90, despite Revolution Medicines missing its latest quarterly EPS estimate and reporting a loss.

North Dakota State Investment Board raised its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 210.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,547 shares of the company's stock after purchasing an additional 11,213 shares during the period. North Dakota State Investment Board's holdings in Revolution Medicines were worth $3,396,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Asset Management One Co. Ltd. lifted its stake in shares of Revolution Medicines by 7.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 66,600 shares of the company's stock worth $13,670,000 after buying an additional 4,333 shares during the last quarter. Park Avenue Securities LLC acquired a new position in Revolution Medicines in the 3rd quarter valued at about $293,000. Signaturefd LLC grew its stake in Revolution Medicines by 32.7% in the 3rd quarter. Signaturefd LLC now owns 2,157 shares of the company's stock valued at $443,000 after buying an additional 532 shares during the last quarter. Washington Trust Advisors Inc. grew its stake in Revolution Medicines by 35.9% in the 3rd quarter. Washington Trust Advisors Inc. now owns 655 shares of the company's stock valued at $134,000 after buying an additional 173 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in Revolution Medicines by 26.1% in the 3rd quarter. Inspire Investing LLC now owns 10,866 shares of the company's stock valued at $2,230,000 after acquiring an additional 2,250 shares during the period. 94.34% of the stock is owned by institutional investors.

Insider Activity at Revolution Medicines

In related news, insider Stephen Kelsey sold 92,531 shares of the business's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $202.36, for a total value of $18,724,573.16. Following the completion of the sale, the insider directly owned 291,876 shares in the company, valued at approximately $59,064,027.36. The trade was a 24.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alan B. Sandler sold 6,309 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $202.14, for a total value of $1,275,301.26. Following the sale, the insider directly owned 52,559 shares in the company, valued at $10,624,276.26. This represents a 10.72% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 290,991 shares of company stock valued at $59,422,765. 7.60% of the stock is currently owned by company insiders.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $188.72 on Thursday. Revolution Medicines, Inc. has a 52 week low of $56.66 and a 52 week high of $224.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The firm's 50-day simple moving average is $200.12 and its 200 day simple moving average is $155.08. The firm has a market cap of $40.45 billion, a price-to-earnings ratio of -21.40 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same quarter in the previous year, the company earned ($1.31) EPS. As a group, sell-side analysts predict that Revolution Medicines, Inc. will post -8.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RVMD shares. Truist Financial raised their price objective on shares of Revolution Medicines from $240.00 to $241.00 and gave the stock a "buy" rating in a research report on Monday, October 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a report on Thursday, October 15th. Oppenheimer upped their target price on Revolution Medicines from $230.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $248.00 target price on shares of Revolution Medicines in a research report on Thursday, August 27th. Finally, The Goldman Sachs Group started coverage on Revolution Medicines in a research note on Thursday, September 24th. They set a "buy" rating and a $267.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Revolution Medicines currently has an average rating of "Moderate Buy" and an average target price of $242.90.

Revolution Medicines Profile

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company's research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.

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