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

California Public Employees Retirement System trimmed its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 3.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,960 shares of the company’s stock after selling 9,046 shares during the quarter. California Public Employees Retirement System owned about 0.13% of Revolution Medicines worth $27,421,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Revolution Medicines during the first quarter worth approximately $1,022,000. Bank of New York Mellon Corp lifted its position in shares of Revolution Medicines by 17.2% during the 1st quarter. Bank of New York Mellon Corp now owns 635,366 shares of the company’s stock worth $61,789,000 after buying an additional 93,297 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Revolution Medicines in the 1st quarter valued at $97,000. Sanctuary Advisors LLC acquired a new position in shares of Revolution Medicines in the 1st quarter valued at $213,000. Finally, Calamos Advisors LLC grew its position in shares of Revolution Medicines by 24.1% in the 1st quarter. Calamos Advisors LLC now owns 15,463 shares of the company’s stock valued at $1,504,000 after buying an additional 3,003 shares during the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Trading Up 1.6%

Shares of Revolution Medicines stock opened at $183.29 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The company has a market capitalization of $38.97 billion, a P/E ratio of -25.92 and a beta of 1.37. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $193.82. The company’s fifty day moving average is $166.55 and its two-hundred day moving average is $129.82.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the firm earned ($1.13) EPS. Analysts forecast that Revolution Medicines, Inc. will post -7.9 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 60,400 shares of Revolution Medicines stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $160.17, for a total value of $9,674,268.00. Following the transaction, the chief operating officer directly owned 158,222 shares in the company, valued at approximately $25,342,417.74. This trade represents a 27.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of Revolution Medicines stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the transaction, the director owned 21,656 shares in the company, valued at $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 132,497 shares of company stock worth $21,470,486 over the last three months. 7.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RVMD has been the topic of several research analyst reports. Mizuho lifted their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Guggenheim boosted their target price on Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday. Finally, Oppenheimer raised their price target on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.06.

Revolution Medicines Profile

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.