MetLife Investment Management LLC Boosts Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

MetLife Investment Management LLC raised its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,329 shares of the company's stock after acquiring an additional 13,918 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of Revolution Medicines worth $4,388,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Nan Fung Group Holdings Ltd raised its stake in Revolution Medicines by 163.7% in the fourth quarter. Nan Fung Group Holdings Ltd now owns 19,253 shares of the company's stock valued at $842,000 after purchasing an additional 11,953 shares in the last quarter. Altium Capital Management LLC purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at $2,624,000. CANADA LIFE ASSURANCE Co grew its position in Revolution Medicines by 5.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock worth $498,000 after acquiring an additional 545 shares in the last quarter. Marshall Wace LLP grew its position in Revolution Medicines by 41.3% in the fourth quarter. Marshall Wace LLP now owns 1,504,801 shares of the company's stock worth $65,820,000 after acquiring an additional 439,802 shares in the last quarter. Finally, Barclays PLC increased its stake in Revolution Medicines by 38.7% in the fourth quarter. Barclays PLC now owns 408,614 shares of the company's stock valued at $17,873,000 after acquiring an additional 113,950 shares during the last quarter. Institutional investors own 94.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RVMD. Wedbush reaffirmed an "outperform" rating and set a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, February 27th. Stifel Nicolaus cut their target price on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Needham & Company LLC reissued a "buy" rating and set a $59.00 price target on shares of Revolution Medicines in a research note on Tuesday, April 8th. UBS Group upped their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, HC Wainwright increased their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Revolution Medicines presently has a consensus rating of "Buy" and an average price target of $66.67.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $38.58 on Friday. The stock's 50-day moving average is $37.49 and its 200 day moving average is $44.16. The company has a market cap of $7.17 billion, a PE ratio of -10.75 and a beta of 1.37. Revolution Medicines, Inc. has a 1 year low of $29.17 and a 1 year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares in the company, valued at $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the transaction, the chief financial officer now owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,660 shares of company stock worth $650,406. 8.00% of the stock is currently owned by corporate insiders.

About Revolution Medicines

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.

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