M&T Bank Corp Invests $642,000 in Revolution Medicines, Inc. $RVMD

M&T Bank Corp bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,060 shares of the company’s stock, valued at approximately $642,000.

Several other hedge funds have also made changes to their positions in RVMD. Signaturefd LLC lifted its position in Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after purchasing an additional 163 shares during the period. Farther Finance Advisors LLC lifted its position in Revolution Medicines by 44.7% in the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock valued at $60,000 after purchasing an additional 232 shares during the period. CWM LLC lifted its position in Revolution Medicines by 51.6% in the fourth quarter. CWM LLC now owns 702 shares of the company’s stock valued at $56,000 after purchasing an additional 239 shares during the period. Public Employees Retirement System of Ohio lifted its position in Revolution Medicines by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 54,143 shares of the company’s stock valued at $2,528,000 after purchasing an additional 336 shares during the period. Finally, Indiana Trust & Investment Management Co acquired a new stake in Revolution Medicines in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Trading Up 1.7%

Shares of Revolution Medicines stock opened at $144.15 on Tuesday. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $155.70. 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 stock has a market cap of $30.65 billion, a PE ratio of -20.39 and a beta of 1.41. The company has a 50-day moving average of $115.02 and a two-hundred day moving average of $95.68.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the firm earned ($1.13) EPS. On average, research analysts anticipate that Revolution Medicines, Inc. will post -7.59 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other news, COO Margaret A. Horn sold 4,583 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 157,570 shares of the company’s stock, valued at $15,675,063.60. This trade represents a 2.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lin Wei sold 2,073 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $206,222.04. Following the transaction, the insider directly owned 101,366 shares of the company’s stock, valued at approximately $10,083,889.68. This trade represents a 2.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 184,592 shares of company stock worth $24,499,532. 8.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. HC Wainwright restated a “buy” rating on shares of Revolution Medicines in a research report on Wednesday, April 22nd. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Piper Sandler raised their price objective on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. UBS Group assumed coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They issued a “buy” rating for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the company. 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.