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

Revolution Medicines, Inc. (NASDAQ:RVMD) has received an average recommendation of “Buy” from the twenty-two brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seventeen have given a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $123.7222.

Several research analysts have weighed in on RVMD shares. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Sanford C. Bernstein started coverage on Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price on the stock. Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Finally, Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Monday, June 1st.

Revolution Medicines Trading Down 3.6%

Shares of RVMD stock opened at $144.19 on Thursday. The business’s 50 day moving average is $138.62 and its two-hundred day moving average is $109.56. Revolution Medicines has a twelve month low of $34.00 and a twelve month high of $166.50. The company has a market capitalization of $30.65 billion, a P/E ratio of -20.39 and a beta of 1.40. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the prior year, the firm posted ($1.13) earnings per share. Equities analysts forecast that Revolution Medicines will post -7.94 EPS for the current year.

Insiders Place Their Bets

In other news, insider Xiaolin Wang sold 2,010 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $199,954.80. Following the completion of the sale, the insider directly owned 116,063 shares of the company’s stock, valued at $11,545,947.24. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,302 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the completion of the sale, the insider directly owned 295,398 shares of the company’s stock, valued at $29,386,193.04. This represents a 1.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 148,592 shares of company stock worth $20,855,132. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Revolution Medicines

Several hedge funds have recently modified their holdings of the business. Seven Fleet Capital Management LP lifted its holdings in shares of Revolution Medicines by 22.8% in the 1st quarter. Seven Fleet Capital Management LP now owns 80,792 shares of the company’s stock valued at $7,857,000 after buying an additional 14,992 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Revolution Medicines by 181.0% in the 1st quarter. Parallel Advisors LLC now owns 562 shares of the company’s stock valued at $55,000 after buying an additional 362 shares during the period. Perceptive Advisors LLC acquired a new stake in shares of Revolution Medicines in the 1st quarter valued at approximately $25,149,000. Avidity Partners Management LP acquired a new stake in shares of Revolution Medicines in the 1st quarter valued at approximately $1,459,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Revolution Medicines in the 1st quarter valued at approximately $6,736,000. 94.34% of the stock is owned by institutional investors and hedge funds.

About Revolution Medicines

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.