Northern Trust Corp Has $67.36 Million Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Northern Trust Corp grew its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 17.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,540,078 shares of the company’s stock after purchasing an additional 228,790 shares during the period. Northern Trust Corp’s holdings in Revolution Medicines were worth $67,363,000 as of its most recent filing with the SEC.

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

Revolution Medicines Trading Down 5.9 %

NASDAQ RVMD opened at $37.44 on Wednesday. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The stock has a 50-day simple moving average of $37.29 and a 200 day simple moving average of $43.57. The company has a market capitalization of $6.97 billion, a PE ratio of -10.43 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results 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). As a group, sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 3,058 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction 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. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jack Anders sold 1,864 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the sale, the chief financial officer now 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. Over the last three months, insiders have sold 16,660 shares of company stock worth $650,406. Company insiders own 8.00% of the company’s stock.

Wall Street Analyst Weigh In

RVMD has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $59.00 target price on shares of Revolution Medicines in a research note on Tuesday, April 8th. HC Wainwright boosted their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Wedbush reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a report on Monday, April 28th. UBS Group lifted their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, 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. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus price target of $66.67.

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.