North Dakota State Investment Board Makes New $485,000 Investment in Revolution Medicines, Inc. $RVMD

North Dakota State Investment Board acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,092 shares of the company’s stock, valued at approximately $485,000.

Several other large investors have also recently added to or reduced their stakes in RVMD. Indiana Trust & Investment Management Co bought a new stake in Revolution Medicines during the fourth quarter worth about $32,000. Torren Management LLC bought a new stake in Revolution Medicines during the fourth quarter worth about $33,000. Darwin Wealth Management LLC bought a new stake in Revolution Medicines during the fourth quarter worth about $40,000. Allworth Financial LP grew its stake in Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after buying an additional 210 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Revolution Medicines by 33.1% during the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after buying an additional 163 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 2,753 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $273,868.44. Following the transaction, the chief financial officer directly owned 125,512 shares of the company’s stock, valued at approximately $12,485,933.76. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the transaction, the insider directly owned 276,698 shares in the company, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 184,592 shares of company stock valued at $24,499,532. 8.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RVMD shares. HC Wainwright reissued a “buy” rating on shares of Revolution Medicines in a research note on Wednesday, April 22nd. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research note on Thursday. They set a “market perform” rating and a $151.00 price target on the stock. Wedbush increased their price target on shares of Revolution Medicines to $165.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Truist Financial started coverage on shares of Revolution Medicines in a research note on Monday. They set a “buy” rating and a $179.00 price target on the stock. Finally, Piper Sandler increased their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $111.35.

Revolution Medicines Price Performance

RVMD opened at $151.56 on Friday. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $156.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The company’s 50 day simple moving average is $123.75 and its 200-day simple moving average is $101.21. The stock has a market capitalization of $32.22 billion, a P/E ratio of -21.44 and a beta of 1.41.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the company earned ($1.13) EPS. Sell-side analysts anticipate that Revolution Medicines, Inc. will post -7.75 earnings per share for the current fiscal year.

Revolution Medicines 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.