Strs Ohio Purchases Shares of 19,400 Revolution Medicines, Inc. $RVMD

Key Points

• Strs Ohio made a new investment of approximately $686,000 in Revolution Medicines, Inc., acquiring 19,400 shares during the first quarter.
• Insider selling has occurred, with CFO Jack Anders selling 2,320 shares and COO Margaret A. Horn selling 4,775 shares, resulting in an overall decline of their positions by 2.05% and 3.17%, respectively.
• Several analysts have rated Revolution Medicines as a "Buy," with price targets raised from $56 to as high as $99 following recent coverage by major financial firms.

Strs Ohio bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,400 shares of the company's stock, valued at approximately $686,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Revolution Medicines by 8.9% during the 1st quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company's stock valued at $416,821,000 after purchasing an additional 966,230 shares in the last quarter. Nextech Invest Ltd. grew its holdings in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after buying an additional 1,304,347 shares during the last quarter. BVF Inc. IL lifted its position in Revolution Medicines by 19.2% in the 1st quarter. BVF Inc. IL now owns 4,982,384 shares of the company's stock valued at $176,177,000 after acquiring an additional 801,205 shares in the last quarter. Lunate Capital Ltd purchased a new stake in shares of Revolution Medicines in the first quarter worth approximately $77,658,000. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Revolution Medicines during the first quarter worth $59,173,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RVMD shares. Piper Sandler initiated coverage on shares of Revolution Medicines in a report on Monday, August 18th. They set an "overweight" rating and a $75.00 price objective on the stock. Raymond James Financial initiated coverage on Revolution Medicines in a research report on Friday, September 12th. They issued a "strong-buy" rating and a $72.00 price objective on the stock. Lifesci Capital initiated coverage on Revolution Medicines in a research note on Monday, August 18th. They set an "outperform" rating and a $80.00 target price on the stock. Truist Financial began coverage on Revolution Medicines in a research note on Friday, September 5th. They set a "buy" rating and a $99.00 target price on the stock. Finally, Wedbush raised their price objective on shares of Revolution Medicines from $73.00 to $77.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $73.67.

Insider Activity

In other news, insider Mark A. Goldsmith sold 13,411 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 $614,492.02. Following the transaction, the insider directly owned 452,309 shares in the company, valued at approximately $20,724,798.38. This represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lin Wei sold 2,160 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $98,971.20. Following the transaction, the insider owned 88,339 shares in the company, valued at $4,047,692.98. This trade represents a 2.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 163,033 shares of company stock worth $7,242,708. 8.20% of the stock is currently owned by insiders.

Revolution Medicines Price Performance

RVMD stock traded down $0.03 during midday trading on Tuesday, reaching $44.38. The company had a trading volume of 94,889 shares, compared to its average volume of 1,897,639. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $62.40. The company has a market capitalization of $8.30 billion, a P/E ratio of -9.85 and a beta of 1.12. The firm has a 50-day moving average price of $38.77 and a 200-day moving average price of $38.39.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). During the same period in the prior year, the company earned ($0.81) EPS. The firm's quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

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.