M&T Bank Corp Makes New $642,000 Investment in Revolution Medicines, Inc. $RVMD

M&T Bank Corp bought a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 8,060 shares of the company’s stock, valued at approximately $642,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Revolution Medicines by 194.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock worth $1,696,000 after acquiring an additional 14,062 shares during the period. New York State Common Retirement Fund grew its stake in Revolution Medicines by 39.3% in the 3rd quarter. New York State Common Retirement Fund now owns 119,807 shares of the company’s stock worth $5,595,000 after acquiring an additional 33,821 shares during the period. Raiffeisen Bank International AG purchased a new stake in Revolution Medicines in the 3rd quarter worth approximately $921,000. Finally, Mass General Brigham Inc purchased a new stake in Revolution Medicines in the 4th quarter worth approximately $27,407,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Revolution Medicines

In related news, COO Margaret A. Horn sold 4,583 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $455,916.84. Following the transaction, the chief operating officer owned 157,570 shares in the company, valued at approximately $15,675,063.60. The trade was a 2.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jack Anders sold 2,753 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the transaction, the chief financial officer owned 125,512 shares in the company, valued at $12,485,933.76. The trade was a 2.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 184,592 shares of company stock worth $24,499,532. Corporate insiders own 8.20% of the company’s stock.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $144.15 on Tuesday. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $30.65 billion, a price-to-earnings ratio of -20.39 and a beta of 1.41. The firm’s fifty day simple moving average is $115.02 and its 200 day simple moving average is $95.68. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $155.70.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business posted ($1.13) EPS. As a group, equities research analysts expect that Revolution Medicines, Inc. will post -7.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

RVMD has been the subject of several recent analyst reports. Wedbush lifted their target price on shares of Revolution Medicines to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. UBS Group assumed coverage on shares of Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Piper Sandler lifted their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $103.88.

Revolution Medicines Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.