Bank of New York Mellon Corp Increases Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

Bank of New York Mellon Corp boosted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 40.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 411,541 shares of the company’s stock after buying an additional 118,930 shares during the period. Bank of New York Mellon Corp owned 0.39% of Revolution Medicines worth $11,009,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Voya Investment Management LLC lifted its stake in shares of Revolution Medicines by 1.3% in the 4th quarter. Voya Investment Management LLC now owns 28,543 shares of the company’s stock valued at $680,000 after purchasing an additional 370 shares during the period. Legal & General Group Plc lifted its position in Revolution Medicines by 1.0% during the second quarter. Legal & General Group Plc now owns 44,308 shares of the company’s stock valued at $863,000 after buying an additional 449 shares during the period. State of Wisconsin Investment Board lifted its position in Revolution Medicines by 0.8% during the 4th quarter. State of Wisconsin Investment Board now owns 61,555 shares of the company’s stock valued at $1,466,000 after acquiring an additional 464 shares during the period. Ensign Peak Advisors Inc boosted its stake in Revolution Medicines by 7.5% during the first quarter. Ensign Peak Advisors Inc now owns 11,990 shares of the company’s stock worth $306,000 after acquiring an additional 840 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in Revolution Medicines by 16.3% in the first quarter. Ameritas Investment Partners Inc. now owns 6,788 shares of the company’s stock worth $147,000 after purchasing an additional 950 shares during the period.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $21.25 on Friday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -6.52 and a beta of 1.47. The business has a 50-day simple moving average of $25.74 and a two-hundred day simple moving average of $26.89. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $35.60.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.02. Revolution Medicines had a negative net margin of 1,003.36% and a negative return on equity of 38.92%. During the same quarter in the previous year, the business earned ($0.87) earnings per share. As a group, research analysts predict that Revolution Medicines, Inc. will post -3.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

RVMD has been the subject of several recent research reports. Oppenheimer lifted their target price on shares of Revolution Medicines from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, October 23rd. JPMorgan Chase & Co. cut their target price on Revolution Medicines from $47.00 to $39.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 7th. Raymond James initiated coverage on Revolution Medicines in a research report on Thursday. They issued an “outperform” rating and a $30.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of Revolution Medicines in a research report on Tuesday, November 7th. Finally, HC Wainwright reduced their price objective on shares of Revolution Medicines from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Insider Buying and Selling at Revolution Medicines

In other news, COO Margaret A. Horn sold 10,000 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $34.05, for a total transaction of $340,500.00. Following the transaction, the chief operating officer now directly owns 99,474 shares of the company’s stock, valued at approximately $3,387,089.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Margaret A. Horn sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $34.05, for a total transaction of $340,500.00. Following the completion of the sale, the chief operating officer now owns 99,474 shares of the company’s stock, valued at approximately $3,387,089.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $35.05, for a total transaction of $1,051,500.00. Following the completion of the transaction, the insider now owns 357,386 shares in the company, valued at approximately $12,526,379.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,882 shares of company stock worth $4,394,678. Insiders own 8.50% of the company’s stock.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic tumors.