Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,426 shares of the company’s stock after acquiring an additional 3,794 shares during the period. Teacher Retirement System of Texas’ holdings in Revolution Medicines were worth $1,359,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RVMD. Sterling Capital Management LLC increased its position in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after acquiring an additional 1,672 shares during the period. Farther Finance Advisors LLC increased its position in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after acquiring an additional 1,613 shares during the period. Kapitalo Investimentos Ltda acquired a new position in Revolution Medicines in the 4th quarter valued at about $104,000. Goodman Advisory Group LLC acquired a new position in Revolution Medicines during the 1st quarter worth approximately $127,000. Finally, GF Fund Management CO. LTD. acquired a new position in Revolution Medicines during the 4th quarter worth approximately $154,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Down 1.2%

Shares of NASDAQ:RVMD opened at $38.02 on Friday. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The stock’s fifty day simple moving average is $39.23 and its 200-day simple moving average is $39.46. The company has a market capitalization of $7.08 billion, a P/E ratio of -9.51 and a beta of 1.06.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter last year, the firm posted ($0.70) earnings per share. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wedbush reiterated an “outperform” rating and set a $73.00 target price (up previously from $67.00) on shares of Revolution Medicines in a research report on Tuesday, June 24th. 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. Oppenheimer boosted their target price on Revolution Medicines from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Stifel Nicolaus dropped their target price on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $72.00 target price (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and an average target price of $68.00.

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.