California State Teachers Retirement System Has $44.66 Million Stock Holdings in Revolution Medicines, Inc. $RVMD

California State Teachers Retirement System increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 44.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,463 shares of the company's stock after buying an additional 73,186 shares during the period. California State Teachers Retirement System owned 0.11% of Revolution Medicines worth $44,659,351 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RVMD. Meeder Advisory Services Inc. lifted its stake in shares of Revolution Medicines by 3.0% in the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company's stock worth $401,000 after acquiring an additional 120 shares during the period. PNC Financial Services Group Inc. lifted its position in Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock worth $802,000 after buying an additional 125 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Revolution Medicines by 147.7% in the second 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 during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Revolution Medicines during the second quarter valued at approximately $32,000. Finally, ABS Investment Management LLC purchased a new position in Revolution Medicines in the second quarter valued at $337,104,000. 94.34% of the stock is owned by institutional investors.

Insider Transactions at Revolution Medicines

In other news, Director Lorence H. Kim sold 17,090 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $209.82, for a total value of $3,585,823.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jack Anders sold 20,000 shares of the company's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the transaction, the chief financial officer owned 123,269 shares of the company's stock, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 208,270 shares of company stock valued at $40,858,400. 7.60% of the stock is currently owned by corporate insiders.

Revolution Medicines Price Performance

NASDAQ RVMD traded down $1.38 during trading on Tuesday, reaching $203.73. 636,403 shares of the company traded hands, compared to its average volume of 2,914,803. The stock's 50 day moving average price is $198.96 and its two-hundred day moving average price is $157.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The company has a market cap of $43.67 billion, a price-to-earnings ratio of -23.08 and a beta of 1.40. Revolution Medicines, Inc. has a 1-year low of $42.18 and a 1-year high of $224.31.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the previous year, the company earned ($1.31) EPS. As a group, analysts anticipate that Revolution Medicines, Inc. will post -8.87 EPS for the current year.

Analyst Ratings Changes

RVMD has been the subject of several recent research reports. Morgan Stanley started coverage on Revolution Medicines in a report on Thursday, September 10th. They set an "overweight" rating and a $255.00 target price for the company. Wedbush increased their price objective on Revolution Medicines from $201.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. TD Cowen upgraded Revolution Medicines to a "strong-buy" rating in a research note on Monday, August 24th. Wolfe Research reissued an "outperform" rating and set a $220.00 price target on shares of Revolution Medicines in a research report on Monday, August 10th. Finally, Royal Bank Of Canada raised their target price on shares of Revolution Medicines from $203.00 to $251.00 and gave the stock an "outperform" rating in a research note on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $226.17.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.

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