California State Teachers Retirement System Boosts Stock Position in Revolution Medicines, Inc. $RVMD

California State Teachers Retirement System lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,277 shares of the company's stock after buying an additional 29,887 shares during the quarter. California State Teachers Retirement System owned approximately 0.08% of Revolution Medicines worth $16,073,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RVMD. Vanguard Group Inc. lifted its position in shares of Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company's stock valued at $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Janus Henderson Group PLC raised its stake in Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company's stock valued at $980,036,000 after purchasing an additional 947,448 shares during the last quarter. Nextech Invest Ltd. lifted its holdings in Revolution Medicines by 20.7% in the 4th 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 in the last quarter. Paradigm Biocapital Advisors LP lifted its holdings in Revolution Medicines by 6.8% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company's stock valued at $529,227,000 after purchasing an additional 421,112 shares in the last quarter. Finally, Bellevue Group AG boosted its stake in Revolution Medicines by 21.7% during the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company's stock worth $260,298,000 after purchasing an additional 994,538 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director owned 21,656 shares in the company, valued at $4,071,111.44. This represents a 20.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 29,600 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the sale, the chief operating officer owned 154,647 shares in the company, valued at $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 132,497 shares of company stock valued at $21,470,486. Insiders own 7.60% of the company's stock.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $187.53 on Monday. The firm has a 50 day simple moving average of $172.57 and a 200-day simple moving average of $134.97. The stock has a market cap of $39.87 billion, a price-to-earnings ratio of -26.52 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $194.56.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same period last year, the firm posted ($1.13) earnings per share. On average, analysts expect that Revolution Medicines, Inc. will post -7.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RVMD. Guggenheim upped their target price on shares of Revolution Medicines from $205.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Evercore restated an "outperform" rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Needham & Company LLC upped their price objective on shares of Revolution Medicines from $235.00 to $236.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Sanford C. Bernstein began coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They issued a "market perform" rating and a $151.00 price objective for the company. Finally, Truist Financial raised their target price on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $144.67.

Revolution Medicines Company 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.

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