Ensign Peak Advisors Inc Buys 265,389 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Ensign Peak Advisors Inc grew its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 667.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 305,172 shares of the company’s stock after purchasing an additional 265,389 shares during the period. Ensign Peak Advisors Inc owned about 0.18% of Revolution Medicines worth $13,348,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RVMD. IFP Advisors Inc bought a new position in Revolution Medicines during the 4th quarter valued at about $34,000. Sterling Capital Management LLC raised its stake in shares of Revolution Medicines by 588.7% in the fourth 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 last quarter. Farther Finance Advisors LLC grew its position in 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. Kapitalo Investimentos Ltda bought a new stake in Revolution Medicines during the 4th quarter worth approximately $104,000. Finally, Daiwa Securities Group Inc. increased 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 in the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $40.58 on Monday. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of -11.30 and a beta of 1.11. The company has a 50 day moving average of $37.36 and a 200-day moving average of $43.39. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same quarter in the previous year, the company earned ($0.70) EPS. Equities research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on RVMD shares. Guggenheim reduced their price objective on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday. Oppenheimer lifted their price target on Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday. Wedbush reissued an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a report on Thursday. Stifel Nicolaus lowered their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $57.00 target price on shares of Revolution Medicines in a research report on Thursday. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $67.17.

Insider Activity

In related news, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines 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 transaction, the insider now owns 441,564 shares of the company’s stock, valued at $17,238,658.56. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jack Anders sold 1,864 shares of the business’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 $72,770.56. Following the transaction, the chief financial officer now owns 115,006 shares of the company’s stock, valued at approximately $4,489,834.24. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 in the last 90 days. 8.00% of the stock is owned by company insiders.

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.