State of New Jersey Common Pension Fund D Increases Stock Holdings in Revolution Medicines, Inc. $RVMD

State of New Jersey Common Pension Fund D boosted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 10.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 58,308 shares of the company’s stock after acquiring an additional 5,478 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Revolution Medicines were worth $2,723,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Nextech Invest Ltd. grew its position in shares of Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after purchasing an additional 1,304,347 shares during the period. Bellevue Group AG lifted its stake in Revolution Medicines by 4.7% in the 2nd quarter. Bellevue Group AG now owns 4,579,300 shares of the company’s stock valued at $168,472,000 after buying an additional 205,000 shares in the last quarter. Norges Bank acquired a new stake in Revolution Medicines in the 2nd quarter worth about $62,584,000. Westfield Capital Management Co. LP increased its stake in Revolution Medicines by 55.0% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,649,404 shares of the company’s stock worth $60,682,000 after buying an additional 585,358 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in shares of Revolution Medicines during the second quarter valued at approximately $44,148,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Down 0.9%

Shares of RVMD opened at $101.83 on Friday. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $124.49. The company has a market capitalization of $19.69 billion, a PE ratio of -19.70 and a beta of 1.01. The stock has a fifty day simple moving average of $96.62 and a two-hundred day simple moving average of $68.23. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16.

Analysts Set New Price Targets

RVMD has been the topic of a number of research analyst reports. HC Wainwright lifted their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a report on Friday, January 9th. JPMorgan Chase & Co. upped their target price on shares of Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. UBS Group upgraded shares of Revolution Medicines to a “strong-buy” rating in a research report on Thursday, December 4th. Finally, Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $78.94.

Insider Activity

In other news, insider Stephen Michael Kelsey sold 5,447 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total value of $418,438.54. Following the completion of the sale, the insider owned 278,600 shares of the company’s stock, valued at $21,402,052. This represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the sale, the chief financial officer directly owned 108,065 shares in the company, valued at approximately $10,590,370. The trade was a 8.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 173,792 shares of company stock valued at $15,239,440 in the last ninety days. 8.20% of the stock is currently owned by company insiders.

About Revolution Medicines

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.