Bank of New York Mellon Corp Has $24.89 Million Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Bank of New York Mellon Corp raised its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 569,015 shares of the company’s stock after purchasing an additional 36,705 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.34% of Revolution Medicines worth $24,889,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RVMD. IFP Advisors Inc acquired a new position in Revolution Medicines in the fourth quarter valued at about $34,000. HealthInvest Partners AB acquired a new position in Revolution Medicines in the fourth quarter valued at about $2,683,000. New York State Common Retirement Fund raised its stake in Revolution Medicines by 12.9% in the fourth quarter. New York State Common Retirement Fund now owns 63,601 shares of the company’s stock valued at $2,782,000 after purchasing an additional 7,244 shares in the last quarter. CIBC Asset Management Inc raised its stake in Revolution Medicines by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock valued at $220,000 after purchasing an additional 270 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Revolution Medicines by 3.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 49,807 shares of the company’s stock valued at $2,179,000 after purchasing an additional 1,623 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Down 0.0 %

Shares of Revolution Medicines stock opened at $39.21 on Monday. The stock’s 50-day simple moving average is $41.59 and its 200-day simple moving average is $46.05. Revolution Medicines, Inc. has a 52 week low of $29.55 and a 52 week high of $62.40. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of -10.92 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). On average, equities analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 4,329 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $196,536.60. Following the transaction, the chief operating officer now directly owns 127,991 shares in the company, valued at approximately $5,810,791.40. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark A. Goldsmith sold 11,714 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $531,815.60. Following the completion of the sale, the insider now owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. This trade represents a 3.48 % 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 valued at $847,981 in the last ninety days. 8.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RVMD shares. Stifel Nicolaus dropped their price target on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. UBS Group lifted their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC decreased their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Guggenheim lifted their target price on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $66.31.

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.