Arizona State Retirement System Acquires 6,989 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Arizona State Retirement System increased its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 40,894 shares of the company's stock after acquiring an additional 6,989 shares during the quarter. Arizona State Retirement System's holdings in Revolution Medicines were worth $1,446,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RVMD. Sterling Capital Management LLC raised its holdings in Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after acquiring an additional 1,672 shares during the period. Farther Finance Advisors LLC boosted its stake in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after purchasing an additional 1,613 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of Revolution Medicines during the fourth quarter valued at about $104,000. Goodman Advisory Group LLC bought a new position in shares of Revolution Medicines in the first quarter valued at approximately $127,000. Finally, GF Fund Management CO. LTD. boosted its position in shares of Revolution Medicines by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock valued at $152,000 after acquiring an additional 775 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RVMD shares. Stifel Nicolaus reduced their price target 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. Oppenheimer upped their target price on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "buy" rating and set a $57.00 price target on shares of Revolution Medicines in a research report on Tuesday, June 24th. HC Wainwright reaffirmed a "buy" rating and issued a $72.00 target price (down from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Finally, Wedbush reiterated an "outperform" rating and set a $73.00 target price (up from $67.00) on shares of Revolution Medicines in a research report on Tuesday, June 24th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Revolution Medicines has a consensus rating of "Buy" and a consensus price target of $68.91.

Revolution Medicines Stock Down 0.4%

Shares of RVMD traded down $0.15 during trading hours on Tuesday, hitting $38.27. The company had a trading volume of 1,226,371 shares, compared to its average volume of 1,622,421. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The stock's 50 day moving average price is $39.11 and its 200 day moving average price is $39.23. The firm has a market cap of $7.13 billion, a P/E ratio of -9.57 and a beta of 1.06.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released 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 previous year, the firm earned ($0.70) earnings per share. On average, research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

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.