Revolution Medicines, Inc. $RVMD Stock Holdings Lifted by North Dakota State Investment Board

North Dakota State Investment Board boosted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 210.2% in the third quarter, Holdings Channel reports. The firm owned 16,547 shares of the company’s stock after purchasing an additional 11,213 shares during the quarter. North Dakota State Investment Board’s holdings in Revolution Medicines were worth $3,396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bluestem Financial Advisors LLC grew its stake in Revolution Medicines by 4.8% during the third quarter. Bluestem Financial Advisors LLC now owns 1,256 shares of the company’s stock worth $258,000 after buying an additional 58 shares in the last quarter. IFP Advisors Inc increased its holdings in Revolution Medicines by 8.7% in the 3rd quarter. IFP Advisors Inc now owns 810 shares of the company’s stock valued at $166,000 after buying an additional 65 shares during the period. TD Waterhouse Canada Inc. increased its holdings in Revolution Medicines by 37.0% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 370 shares of the company’s stock valued at $76,000 after buying an additional 100 shares during the period. Meeder Advisory Services Inc. raised its position in shares of Revolution Medicines by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after buying an additional 120 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Revolution Medicines by 147.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company’s stock valued at $41,000 after buying an additional 130 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Insiders Place Their Bets

In related news, insider Alan Sandler sold 6,309 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $202.14, for a total value of $1,275,301.26. Following the completion of the transaction, the insider owned 52,559 shares of the company’s stock, valued at $10,624,276.26. This represents a 10.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Goldsmith sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the completion of the sale, the insider owned 267,330 shares in the company, valued at $55,925,436. This represents a 23.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 290,991 shares of company stock worth $59,422,765 over the last 90 days. Insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Raymond James Financial reissued a “strong-buy” rating and issued a $248.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 27th. Oppenheimer lifted their price objective on shares of Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. TD Cowen restated a “buy” rating and set a $250.00 price objective on shares of Revolution Medicines in a research report on Wednesday, October 21st. Finally, Truist Financial upped their target price on Revolution Medicines from $240.00 to $241.00 and gave the stock a “buy” rating in a research note on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $242.90.

Revolution Medicines Stock Up 1.3%

RVMD stock opened at $188.72 on Thursday. The firm has a 50-day moving average price of $200.12 and a 200-day moving average price of $155.08. Revolution Medicines, Inc. has a 12 month low of $56.66 and a 12 month high of $224.31. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $40.45 billion, a P/E ratio of -21.40 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the company earned ($1.31) EPS. As a group, equities research analysts anticipate that Revolution Medicines, Inc. will post -8.94 EPS for the current fiscal year.

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.