Arizona State Retirement System lifted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Boxer Capital Management LLC acquired a new stake in Revolution Medicines during the fourth quarter worth approximately $187,184,000. Janus Henderson Group PLC lifted its position in shares of Revolution Medicines by 54.5% during the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock worth $414,777,000 after acquiring an additional 3,346,755 shares in the last quarter. Lunate Capital Ltd bought a new stake in shares of Revolution Medicines during the 1st quarter valued at about $77,658,000. Vanguard Group Inc. boosted its stake 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 purchasing an additional 2,185,082 shares during the period. Finally, Farallon Capital Management LLC raised its position in Revolution Medicines by 17.1% during the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after purchasing an additional 1,931,000 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.
Revolution Medicines Stock Performance
Shares of NASDAQ RVMD traded down $0.75 during trading on Friday, reaching $38.30. The stock had a trading volume of 2,141,511 shares, compared to its average volume of 1,624,707. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The business's 50-day moving average price is $39.11 and its 200-day moving average price is $39.30. The company has a market cap of $7.13 billion, a P/E ratio of -9.58 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) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same period in the prior year, the firm posted ($0.70) earnings per share. Analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on RVMD. Stifel Nicolaus lowered their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Needham & Company LLC reiterated a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a research report on Tuesday, June 24th. The Goldman Sachs Group assumed coverage on Revolution Medicines in a report on Tuesday. They set a "buy" rating and a $65.00 price objective for the company. Guggenheim restated a "buy" rating and issued a $80.00 target price on shares of Revolution Medicines in a research note on Wednesday, June 25th. Finally, Oppenheimer raised their price target on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $68.91.
View Our Latest Stock Report on RVMD
Revolution Medicines Company Profile
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Free Report)
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.
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