California Public Employees Retirement System Has $11.74 Million Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

California Public Employees Retirement System grew its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 17.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 268,289 shares of the company’s stock after purchasing an additional 39,475 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Revolution Medicines worth $11,735,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of RVMD. Vanguard Group Inc. grew its holdings in Revolution Medicines by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock worth $747,799,000 after acquiring an additional 2,185,082 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Revolution Medicines during the 3rd quarter worth approximately $83,082,000. Norges Bank bought a new stake in Revolution Medicines in the fourth quarter valued at $76,197,000. Pictet Asset Management Holding SA raised its holdings in shares of Revolution Medicines by 4,399.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 712,596 shares of the company’s stock valued at $31,169,000 after purchasing an additional 696,759 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Revolution Medicines during the 4th quarter worth about $14,067,000. Institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of the company’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 sale, the insider now directly owns 441,564 shares of the company’s stock, valued at $17,238,658.56. This represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The stock was 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 owns 153,533 shares of the company’s stock, valued at $5,993,928.32. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,660 shares of company stock worth $650,406. Insiders own 8.00% of the company’s stock.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $31.32 on Friday. The business’s fifty day moving average is $39.61 and its 200-day moving average is $45.25. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of -8.72 and a beta of 1.37. Revolution Medicines, Inc. has a one year low of $30.94 and a one year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Research analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RVMD shares. Needham & Company LLC dropped their price target on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus cut their target price on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. HC Wainwright boosted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. UBS Group lifted their price objective 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. Finally, Wedbush restated an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $65.23.

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.