Revolution Medicines (NASDAQ:RVMD) Shares Gap Up to $37.53

Revolution Medicines, Inc. (NASDAQ:RVMDGet Free Report) gapped up prior to trading on Monday . The stock had previously closed at $37.53, but opened at $39.41. Revolution Medicines shares last traded at $38.92, with a volume of 87,590 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RVMD shares. Wedbush raised their price objective on Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $36.00 to $48.00 in a research note on Wednesday, April 10th. HC Wainwright reiterated a “buy” rating and issued a $44.00 target price on shares of Revolution Medicines in a research note on Monday, May 13th. Needham & Company LLC reiterated a “buy” rating and issued a $46.00 target price on shares of Revolution Medicines in a research note on Thursday, May 9th. Finally, Oppenheimer raised their target price on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $45.00.

View Our Latest Stock Analysis on Revolution Medicines

Revolution Medicines Price Performance

The company’s 50-day simple moving average is $38.76 and its 200-day simple moving average is $33.61. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of -11.71 and a beta of 1.44.

Revolution Medicines (NASDAQ:RVMDGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.05. Revolution Medicines’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.72) EPS. Research analysts expect that Revolution Medicines, Inc. will post -3.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Jeff Cislini sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total value of $76,940.00. Following the completion of the sale, the general counsel now directly owns 49,487 shares in the company, valued at $1,903,764.89. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, General Counsel Jeff Cislini sold 2,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the sale, the general counsel now directly owns 49,487 shares of the company’s stock, valued at approximately $1,903,764.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the sale, the chief financial officer now directly owns 101,959 shares in the company, valued at $4,081,418.77. The disclosure for this sale can be found here. Insiders sold 12,200 shares of company stock worth $485,040 over the last three months. Insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC lifted its position in shares of Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after buying an additional 885 shares during the last quarter. Manchester Capital Management LLC bought a new stake in shares of Revolution Medicines during the 4th quarter worth $80,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Revolution Medicines during the 1st quarter worth $104,000. EntryPoint Capital LLC bought a new stake in shares of Revolution Medicines during the 1st quarter worth $107,000. Finally, Natixis bought a new stake in shares of Revolution Medicines during the 1st quarter worth $196,000. 94.34% of the stock is owned by institutional investors and hedge funds.

About Revolution Medicines

(Get Free Report)

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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