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

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been assigned an average rating of “Buy” from the eighteen ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, thirteen have given a buy rating and four have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $78.9412.

A number of research firms have issued reports on RVMD. HC Wainwright upped their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Royal Bank Of Canada initiated coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price objective for the company. Finally, Wedbush restated an “outperform” rating on shares of Revolution Medicines in a report on Friday, January 9th.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $96.15 on Friday. The company has a market cap of $18.59 billion, a P/E ratio of -18.60 and a beta of 1.01. The firm’s 50 day moving average is $92.12 and its two-hundred day moving average is $63.35. Revolution Medicines has a fifty-two week low of $29.17 and a fifty-two week high of $124.49. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same period last year, the business posted ($0.94) earnings per share. Analysts expect that Revolution Medicines will post -3.49 EPS for the current year.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 15,394 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $1,182,567.08. Following the transaction, the insider directly owned 232,469 shares of the company’s stock, valued at approximately $17,858,268.58. The trade was a 6.21% decrease in their position. 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 that occurred on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the completion of the sale, the chief financial officer directly owned 108,065 shares of the company’s stock, valued at $10,590,370. This trade represents a 8.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 213,792 shares of company stock worth $17,948,440 over the last three months. 8.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. North Dakota State Investment Board acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $485,000. S&CO Inc. increased its stake in shares of Revolution Medicines by 54.1% in the fourth quarter. S&CO Inc. now owns 34,171 shares of the company’s stock worth $2,721,000 after buying an additional 12,000 shares during the last quarter. AIHC Capital Management Ltd acquired a new stake in Revolution Medicines in the fourth quarter valued at $71,716,000. Baader Bank Aktiengesellschaft bought a new position in Revolution Medicines during the 4th quarter valued at $319,000. Finally, Allworth Financial LP boosted its stake in Revolution Medicines by 57.2% during the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Company 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.