MetLife Investment Management LLC Acquires 13,918 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

MetLife Investment Management LLC increased its holdings in shares of 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 and Exchange Commission (SEC). The firm owned 100,329 shares of the company's stock after buying an additional 13,918 shares during the period. MetLife Investment Management LLC owned about 0.06% of Revolution Medicines worth $4,388,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Revolution Medicines by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock worth $747,799,000 after purchasing an additional 2,185,082 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Revolution Medicines during the 3rd quarter worth approximately $83,082,000. Norges Bank bought a new position in Revolution Medicines during the 4th quarter worth approximately $76,197,000. FMR LLC raised its holdings in Revolution Medicines by 14.7% during the 4th quarter. FMR LLC now owns 6,742,083 shares of the company's stock worth $294,899,000 after purchasing an additional 866,190 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in Revolution Medicines by 4,399.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 712,596 shares of the company's stock worth $31,169,000 after purchasing an additional 696,759 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,738 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the completion of the transaction, the insider now directly owns 441,564 shares in the company, valued at $17,238,658.56. The trade was a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Margaret A. Horn sold 3,058 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the transaction, the chief operating officer now owns 153,533 shares of the company's stock, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their ownership of the stock. 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. Corporate insiders own 8.00% of the company's stock.

Revolution Medicines Trading Up 0.0 %

Shares of RVMD stock traded up $0.01 during trading hours on Wednesday, hitting $40.68. 333,856 shares of the company were exchanged, compared to its average volume of 1,440,381. The firm has a fifty day simple moving average of $37.38 and a 200 day simple moving average of $43.92. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of -11.27 and a beta of 1.37.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Wedbush reiterated an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research note on Monday. UBS Group lifted 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. HC Wainwright lifted their price objective 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. Finally, Needham & Company LLC reissued a "buy" rating and issued a $59.00 price target on shares of Revolution Medicines in a research report on Tuesday, April 8th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $66.67.

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.