Revolution Medicines, Inc. (NASDAQ:RVMD) Holdings Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 569,015 shares of the company's stock after purchasing an additional 36,705 shares during the period. Bank of New York Mellon Corp owned about 0.34% of Revolution Medicines worth $24,889,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RVMD. Lord Abbett & CO. LLC purchased a new stake in Revolution Medicines in the 3rd quarter worth approximately $83,082,000. Janus Henderson Group PLC boosted its holdings in shares of Revolution Medicines by 32.3% during the third quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company's stock worth $278,280,000 after purchasing an additional 1,497,026 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Revolution Medicines by 58.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company's stock valued at $79,957,000 after purchasing an additional 653,433 shares during the period. Fred Alger Management LLC increased its stake in Revolution Medicines by 2,384.3% in the third quarter. Fred Alger Management LLC now owns 540,673 shares of the company's stock valued at $24,520,000 after purchasing an additional 518,909 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Revolution Medicines by 8.7% during the third quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company's stock worth $164,517,000 after buying an additional 291,369 shares during the period. Institutional investors and hedge funds own 94.34% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wedbush restated an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. Needham & Company LLC dropped their price objective on Revolution Medicines from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, February 27th. UBS Group increased their target price on Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Stifel Nicolaus lowered their price target on Revolution Medicines from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Guggenheim raised their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" 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 stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $66.31.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,714 shares of Revolution Medicines stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $531,815.60. Following the completion of the transaction, the insider now owns 325,056 shares of the company's stock, valued at $14,757,542.40. The trade was a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jack Anders sold 2,635 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $119,629.00. Following the sale, the chief financial officer now directly owns 96,470 shares in the company, valued at $4,379,738. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,678 shares of company stock worth $847,981 in the last ninety days. 8.00% of the stock is owned by insiders.

Revolution Medicines Trading Down 0.4 %

RVMD stock traded down $0.16 during trading on Thursday, reaching $39.04. The stock had a trading volume of 668,607 shares, compared to its average volume of 1,358,074. The firm has a fifty day moving average price of $41.28 and a 200 day moving average price of $45.92. The company has a market capitalization of $7.26 billion, a P/E ratio of -10.87 and a beta of 1.46. Revolution Medicines, Inc. has a 1-year low of $29.55 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current 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.