California Public Employees Retirement System Acquires 39,475 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

California Public Employees Retirement System increased its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 17.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 268,289 shares of the company's stock after acquiring an additional 39,475 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Revolution Medicines worth $11,735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RVMD. IFP Advisors Inc acquired a new stake in Revolution Medicines in the 4th quarter valued at approximately $34,000. Quarry LP acquired a new position in Revolution Medicines during the third quarter worth about $82,000. Farther Finance Advisors LLC grew its position in Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after buying an additional 1,613 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Revolution Medicines by 521.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company's stock valued at $165,000 after purchasing an additional 3,178 shares during the last quarter. Finally, Avanza Fonder AB purchased a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $173,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stifel Nicolaus cut their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Needham & Company LLC reissued a "buy" rating and set a $59.00 price objective on shares of Revolution Medicines in a report on Tuesday. Wedbush reissued an "outperform" rating and set a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, February 27th. HC Wainwright upped their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Finally, UBS Group boosted their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $65.23.

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Insiders Place Their Bets

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction 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 transaction, the chief operating officer now directly owns 153,533 shares of the company's stock, valued at $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 11,738 shares of the business's stock in a transaction dated 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 directly owns 441,564 shares of the company's stock, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,660 shares of company stock worth $650,406. Company insiders own 8.00% of the company's stock.

Revolution Medicines Stock Performance

Shares of RVMD stock traded down $2.07 during mid-day trading on Thursday, reaching $33.05. The company's stock had a trading volume of 309,539 shares, compared to its average volume of 1,430,987. The company has a market cap of $6.14 billion, a P/E ratio of -9.23 and a beta of 1.37. The firm's 50-day moving average is $38.71 and its two-hundred day moving average is $44.84. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

About Revolution Medicines

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.