Teacher Retirement System of Texas Has $1.52 Million Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Teacher Retirement System of Texas lifted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 19.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,632 shares of the company’s stock after purchasing an additional 5,667 shares during the period. Teacher Retirement System of Texas’ holdings in Revolution Medicines were worth $1,515,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. IFP Advisors Inc bought a new position in Revolution Medicines during the fourth quarter worth about $34,000. Quarry LP acquired a new position in shares of Revolution Medicines during the 3rd quarter worth approximately $82,000. Farther Finance Advisors LLC increased its holdings in shares of Revolution Medicines by 368.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after acquiring an additional 1,613 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Revolution Medicines by 521.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company’s stock valued at $165,000 after purchasing an additional 3,178 shares during the last quarter. Finally, Avanza Fonder AB bought a new position in Revolution Medicines during the fourth quarter worth $173,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Buying and Selling at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were 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 directly owns 153,533 shares in the company, valued at $5,993,928.32. This represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 11,738 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the completion of the transaction, the insider now directly owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,660 shares of company stock valued at $650,406. 8.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RVMD has been the topic of several research analyst reports. Needham & Company LLC dropped their price objective on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus cut their price objective on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. HC Wainwright upped their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. UBS Group lifted their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their price objective on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $66.31.

Revolution Medicines Stock Down 2.0 %

RVMD opened at $37.35 on Friday. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of -10.40 and a beta of 1.46. Revolution Medicines, Inc. has a twelve month low of $29.55 and a twelve month high of $62.40. The company has a 50-day simple moving average of $40.32 and a 200 day simple moving average of $45.56.

Revolution Medicines (NASDAQ:RVMD) last issued 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). Sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

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.