BNP Paribas Financial Markets Acquires Shares of 248,326 Revolution Medicines, Inc. (NASDAQ:RVMD)

BNP Paribas Financial Markets bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 248,326 shares of the company's stock, valued at approximately $10,862,000. BNP Paribas Financial Markets owned about 0.15% of Revolution Medicines as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc raised its holdings in Revolution Medicines by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company's stock worth $220,000 after purchasing an additional 270 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Revolution Medicines by 11.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock worth $186,000 after buying an additional 434 shares during the last quarter. Amalgamated Bank raised its stake in shares of Revolution Medicines by 8.3% during the fourth quarter. Amalgamated Bank now owns 5,707 shares of the company's stock worth $250,000 after buying an additional 435 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Revolution Medicines by 5.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock valued at $498,000 after acquiring an additional 545 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Revolution Medicines by 2.0% in the fourth quarter. Arizona State Retirement System now owns 33,905 shares of the company's stock valued at $1,483,000 after acquiring an additional 650 shares during the last quarter. Institutional investors own 94.34% of the company's stock.

Insider Transactions at Revolution Medicines

In related news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at approximately $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jack Anders sold 1,864 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the transaction, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. 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 over the last 90 days. 8.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Stifel Nicolaus cut their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Needham & Company LLC restated a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a report on Thursday. Wedbush reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a research note on Thursday. Oppenheimer boosted their price objective on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday. Finally, HC Wainwright upped their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Revolution Medicines presently has a consensus rating of "Buy" and a consensus target price of $67.17.

Revolution Medicines Price Performance

RVMD opened at $40.58 on Friday. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of -11.30 and a beta of 1.11. The business's 50-day moving average price is $37.36 and its two-hundred day moving average price is $43.41. 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 released its earnings results on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter in the previous year, the company posted ($0.70) earnings per share. Sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

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.

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