New York State Common Retirement Fund Acquires 7,244 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

New York State Common Retirement Fund lifted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,601 shares of the company's stock after buying an additional 7,244 shares during the period. New York State Common Retirement Fund's holdings in Revolution Medicines were worth $2,782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC grew its stake in Revolution Medicines by 32.3% during the third quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company's stock worth $278,280,000 after buying an additional 1,497,026 shares during the last quarter. FMR LLC boosted its holdings in shares of Revolution Medicines by 4.4% in the 3rd quarter. FMR LLC now owns 5,875,893 shares of the company's stock worth $266,472,000 after acquiring an additional 250,037 shares in the last quarter. State Street Corp grew its position in Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company's stock worth $239,429,000 after acquiring an additional 208,516 shares during the last quarter. Geode Capital Management LLC increased its holdings in Revolution Medicines by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company's stock valued at $164,517,000 after purchasing an additional 291,369 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in Revolution Medicines in the 3rd quarter valued at $83,082,000. Institutional investors own 94.34% of the company's stock.

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Insiders Place Their Bets

In related news, CFO Jack Anders sold 2,635 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the completion of the sale, the chief financial officer now owns 96,470 shares in the company, valued at $4,379,738. This represents a 2.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Margaret A. Horn sold 4,329 shares of Revolution Medicines stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the transaction, the chief operating officer now owns 127,991 shares in the company, valued at approximately $5,810,791.40. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,678 shares of company stock worth $847,981. Company insiders own 8.00% of the company's stock.

Revolution Medicines Stock Performance

NASDAQ:RVMD traded up $1.66 during mid-day trading on Wednesday, hitting $39.62. The company had a trading volume of 1,528,504 shares, compared to its average volume of 1,340,541. Revolution Medicines, Inc. has a fifty-two week low of $29.55 and a fifty-two week high of $62.40. The firm has a market cap of $7.37 billion, a P/E ratio of -11.04 and a beta of 1.46. The business's fifty day moving average is $41.81 and its two-hundred day moving average is $46.10.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.11). Equities analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RVMD. Needham & Company LLC lowered their target price on Revolution Medicines from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Piper Sandler raised their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Stifel Nicolaus reduced their target price on shares of Revolution Medicines from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Guggenheim raised their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Finally, HC Wainwright boosted their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $66.31.

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.