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

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have been given a consensus recommendation of “Buy” by the eleven research firms that are covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $65.82.

Several equities research analysts have commented on RVMD shares. Guggenheim upped their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Oppenheimer lifted their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Wedbush reissued an “outperform” rating and set a $70.00 target price on shares of Revolution Medicines in a research note on Monday, December 2nd. Finally, HC Wainwright lifted their price target on Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling

In other news, Director Barbara Weber sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the transaction, the director now directly owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This trade represents a 28.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thilo Schroeder acquired 1,304,347 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were acquired at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the purchase, the director now owns 2,096,612 shares in the company, valued at $96,444,152. This represents a 164.64 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 136,544 shares of company stock worth $6,754,306. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. Quarry LP purchased a new stake in Revolution Medicines in the 3rd quarter valued at $82,000. Values First Advisors Inc. acquired a new stake in shares of Revolution Medicines in the 3rd quarter worth $93,000. KBC Group NV raised its holdings in shares of Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after acquiring an additional 368 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Revolution Medicines by 7.4% during the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock valued at $205,000 after acquiring an additional 365 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $43.74 on Thursday. The stock has a market cap of $7.36 billion, a PE ratio of -12.18 and a beta of 1.40. The firm has a fifty day moving average price of $51.06 and a 200 day moving average price of $46.32. Revolution Medicines has a 1 year low of $25.93 and a 1 year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter last year, the business earned ($0.99) earnings per share. As a group, equities analysts expect that Revolution Medicines will post -3.5 EPS for the current 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.