Revolution Medicines, Inc. (NASDAQ:RVMD) Given Average Recommendation of “Buy” by Analysts

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have earned a consensus rating of “Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, thirteen have given a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $78.50.

A number of brokerages have issued reports on RVMD. UBS Group upgraded Revolution Medicines to a “strong-buy” rating in a research report on Thursday, December 4th. Truist Financial initiated coverage on Revolution Medicines in a report on Friday, September 5th. They set a “buy” rating and a $99.00 price target on the stock. Raymond James Financial lifted their price objective on shares of Revolution Medicines from $72.00 to $76.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 17th. Wells Fargo & Company boosted their price objective on shares of Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Finally, Royal Bank Of Canada initiated coverage on shares of Revolution Medicines in a research note on Monday, November 3rd. They set an “outperform” rating and a $77.00 price target for the company.

Insider Buying and Selling

In other news, insider Stephen Michael Kelsey sold 25,000 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $48.54, for a total transaction of $1,213,500.00. Following the completion of the sale, the insider directly owned 284,047 shares of the company’s stock, valued at approximately $13,787,641.38. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $75.08, for a total transaction of $4,504,800.00. Following the completion of the transaction, the insider directly owned 247,863 shares in the company, valued at $18,609,554.04. This represents a 19.49% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 155,000 shares of company stock worth $10,236,600. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds have recently added to or reduced their stakes in RVMD. S&CO Inc. boosted its stake in Revolution Medicines by 54.5% in the second quarter. S&CO Inc. now owns 14,171 shares of the company’s stock valued at $521,000 after acquiring an additional 5,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Revolution Medicines during the second quarter worth $3,639,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Revolution Medicines by 64.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock valued at $2,146,000 after purchasing an additional 22,906 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Revolution Medicines by 7.6% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 71,311 shares of the company’s stock worth $2,624,000 after purchasing an additional 5,060 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in shares of Revolution Medicines in the 2nd quarter worth $1,678,000. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Trading Down 1.1%

Shares of RVMD opened at $76.74 on Thursday. Revolution Medicines has a fifty-two week low of $29.17 and a fifty-two week high of $81.49. The stock has a market capitalization of $14.84 billion, a PE ratio of -14.84 and a beta of 0.96. The company’s fifty day moving average is $65.55 and its 200 day moving average is $48.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter in the previous year, the firm posted ($0.94) EPS. Sell-side analysts expect that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

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.