Teacher Retirement System of Texas Purchases 2,238 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Teacher Retirement System of Texas lifted its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,375 shares of the company’s stock after purchasing an additional 2,238 shares during the quarter. Teacher Retirement System of Texas’ holdings in Revolution Medicines were worth $670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fred Alger Management LLC acquired a new position in shares of Revolution Medicines in the third quarter valued at approximately $126,000. Federated Hermes Inc. acquired a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $126,000. Clear Harbor Asset Management LLC bought a new stake in shares of Revolution Medicines in the fourth quarter valued at about $206,000. Mackenzie Financial Corp acquired a new position in shares of Revolution Medicines during the fourth quarter worth about $248,000. Finally, Xponance Inc. bought a new position in shares of Revolution Medicines during the fourth quarter worth about $250,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Activity

In related news, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the completion of the sale, the chief financial officer now directly owns 101,959 shares of the company’s stock, valued at approximately $4,081,418.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $40.03, for a total transaction of $400,300.00. Following the transaction, the chief financial officer now directly owns 101,959 shares of the company’s stock, valued at $4,081,418.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Jeff Cislini sold 1,252 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the sale, the general counsel now directly owns 55,874 shares of the company’s stock, valued at approximately $1,764,500.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,705 shares of company stock valued at $1,031,049. 8.50% of the stock is owned by insiders.

Revolution Medicines Stock Down 0.5 %

Shares of Revolution Medicines stock opened at $37.95 on Friday. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $40.63. The business has a fifty day simple moving average of $35.47 and a two-hundred day simple moving average of $29.99.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.05. The company’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.72) earnings per share. Sell-side analysts predict that Revolution Medicines, Inc. will post -3.12 EPS for the current year.

Analyst Ratings Changes

RVMD has been the subject of a number of recent research reports. Oppenheimer upped their price target on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $36.00 to $48.00 in a research note on Wednesday, April 10th. Piper Sandler initiated coverage on shares of Revolution Medicines in a research note on Monday, March 11th. They set an “overweight” rating and a $43.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $46.00 price target on shares of Revolution Medicines in a research report on Thursday, May 9th. Finally, Wedbush boosted their price target on Revolution Medicines from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus price target of $43.20.

Revolution Medicines Company 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.