Revolution Medicines (NASDAQ:RVMD) Upgraded at Truist Financial

Truist Financial upgraded shares of Revolution Medicines (NASDAQ:RVMD) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Evercore upgraded Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, February 25th. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Finally, Jefferies Financial Group began coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $78.94.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $92.51 on Wednesday. Revolution Medicines has a 1-year low of $29.17 and a 1-year high of $124.49. The company has a 50 day moving average of $100.37 and a 200-day moving average of $78.70. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.16. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of -15.65 and a beta of 0.99.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period last year, the business earned ($1.12) earnings per share. On average, equities analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Stephen Michael Kelsey sold 4,302 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $427,962.96. Following the transaction, the insider directly owned 295,398 shares in the company, valued at $29,386,193.04. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Margaret A. Horn sold 4,583 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $455,916.84. Following the sale, the chief operating officer directly owned 157,570 shares of the company’s stock, valued at approximately $15,675,063.60. This trade represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 149,592 shares of company stock worth $15,010,732. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVMD. Rockefeller Capital Management L.P. increased its position in shares of Revolution Medicines by 82.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 598 shares of the company’s stock valued at $48,000 after buying an additional 271 shares in the last quarter. Avoro Capital Advisors LLC bought a new position in Revolution Medicines during the fourth quarter worth about $172,840,000. Corient Private Wealth LLC acquired a new position in Revolution Medicines in the fourth quarter valued at about $215,000. Flax Pond Capital LLC acquired a new position in Revolution Medicines in the fourth quarter valued at about $632,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Revolution Medicines in the fourth quarter worth about $5,241,000. Institutional investors own 94.34% of the company’s stock.

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.