Ensign Peak Advisors Inc Grows Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Ensign Peak Advisors Inc increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 667.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 305,172 shares of the company's stock after buying an additional 265,389 shares during the quarter. Ensign Peak Advisors Inc owned about 0.18% of Revolution Medicines worth $13,348,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RVMD. Boxer Capital Management LLC bought a new position in Revolution Medicines during the 4th quarter valued at about $187,184,000. Vanguard Group Inc. boosted its position in shares of Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after buying an additional 2,185,082 shares during the period. Farallon Capital Management LLC grew its stake in shares of Revolution Medicines by 17.1% during the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after buying an additional 1,931,000 shares during the last quarter. Norges Bank purchased a new stake in shares of Revolution Medicines in the fourth quarter worth approximately $76,197,000. Finally, FMR LLC lifted its stake in shares of Revolution Medicines by 14.7% during the 4th quarter. FMR LLC now owns 6,742,083 shares of the company's stock worth $294,899,000 after acquiring an additional 866,190 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Price Performance

NASDAQ RVMD traded down $0.04 during midday trading on Thursday, hitting $39.44. 899,044 shares of the company traded hands, compared to its average volume of 1,491,953. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40. The company's 50-day simple moving average is $37.42 and its 200-day simple moving average is $43.31. The company has a market cap of $7.35 billion, a PE ratio of -10.99 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter in the prior year, the company earned ($0.70) earnings per share. On average, research analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Activity

In related news, insider Mark A. Goldsmith sold 11,738 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the completion of the sale, the insider now owns 441,564 shares of the company's stock, valued at $17,238,658.56. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Margaret A. Horn sold 3,058 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at approximately $5,993,928.32. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,660 shares of company stock worth $650,406. Corporate insiders own 8.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on RVMD. Oppenheimer upped their price objective on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Guggenheim lowered their target price on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $57.00 price target on shares of Revolution Medicines in a research note on Thursday, May 8th. Stifel Nicolaus lowered their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Wedbush restated an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, May 8th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $67.08.

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.