Revolution Medicines, Inc. $RVMD Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 281,960 shares of the company’s stock after selling 9,046 shares during the quarter. California Public Employees Retirement System’s holdings in Revolution Medicines were worth $27,421,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in RVMD. Vanguard Group Inc. boosted its holdings in Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after purchasing an additional 1,056,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Revolution Medicines by 194.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock worth $1,696,000 after buying an additional 14,062 shares in the last quarter. Mass General Brigham Inc purchased a new position in shares of Revolution Medicines during the 4th quarter worth approximately $27,407,000. Eagle Health Investments LP acquired a new stake in shares of Revolution Medicines in the 4th quarter valued at approximately $9,231,000. Finally, M&T Bank Corp purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $52,723,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 29,600 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total value of $4,739,552.00. Following the sale, the chief operating officer owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. This represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. This represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 132,497 shares of company stock valued at $21,470,486 in the last 90 days. 7.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on RVMD shares. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Needham & Company LLC raised their target price on Revolution Medicines from $235.00 to $236.00 and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Wedbush upped their price target on shares of Revolution Medicines from $165.00 to $181.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Finally, Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.06.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $183.29 on Wednesday. The business’s 50 day simple moving average is $166.55 and its 200-day simple moving average is $129.82. The firm has a market capitalization of $38.97 billion, a price-to-earnings ratio of -25.92 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 12 month low of $34.00 and a 12 month high of $193.82.

Revolution Medicines (NASDAQ:RVMD) 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 business posted ($1.13) earnings per share. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -7.9 earnings per share for the current fiscal year.

About Revolution Medicines

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.