Revolution Medicines (NASDAQ:RVMD) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Revolution Medicines (NASDAQ:RVMDFree Report) in a research report sent to investors on Monday morning, Marketbeat reports. The firm issued a buy rating and a $63.00 target price on the stock.

RVMD has been the topic of a number of other reports. Needham & Company LLC reissued a buy rating and issued a $46.00 price target on shares of Revolution Medicines in a report on Thursday, May 9th. Piper Sandler began coverage on shares of Revolution Medicines in a report on Monday, March 11th. They issued an overweight rating and a $43.00 price target on the stock. Raymond James raised shares of Revolution Medicines from an outperform rating to a strong-buy rating and raised their target price for the company from $36.00 to $48.00 in a research note on Wednesday, April 10th. Oppenheimer raised their target price on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an outperform rating in a research note on Friday, April 12th. Finally, Wedbush raised their target price on shares of Revolution Medicines from $42.00 to $46.00 and gave the company an outperform rating in a research note on Thursday, May 9th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Revolution Medicines has a consensus rating of Buy and an average price target of $45.00.

Get Our Latest Analysis on RVMD

Revolution Medicines Price Performance

NASDAQ RVMD opened at $42.46 on Monday. Revolution Medicines has a 1 year low of $15.44 and a 1 year high of $44.80. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of -11.32 and a beta of 1.44. The company has a fifty day moving average price of $38.83 and a 200-day moving average price of $33.67.

Revolution Medicines (NASDAQ:RVMDGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. During the same quarter in the previous year, the company earned ($0.72) earnings per share. Revolution Medicines’s quarterly revenue was down 100.0% on a year-over-year basis. On average, research analysts anticipate that Revolution Medicines will post -3.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Revolution Medicines news, General Counsel Jeff Cislini sold 2,399 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $40.83, for a total transaction of $97,951.17. Following the transaction, the general counsel now directly owns 47,088 shares of the company’s stock, valued at $1,922,603.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Revolution Medicines news, General Counsel Jeff Cislini sold 2,399 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $40.83, for a total transaction of $97,951.17. Following the transaction, the general counsel now directly owns 47,088 shares of the company’s stock, valued at $1,922,603.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the transaction, the chief financial officer now directly owns 101,959 shares in the company, valued at $4,081,418.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,754 shares of company stock valued at $677,811. 8.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RVMD. Adage Capital Partners GP L.L.C. bought a new position in shares of Revolution Medicines in the third quarter worth approximately $830,000. Walleye Capital LLC bought a new position in shares of Revolution Medicines in the third quarter worth approximately $2,644,000. Wellington Management Group LLP grew its holdings in shares of Revolution Medicines by 2.7% in the third quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock worth $292,646,000 after purchasing an additional 282,786 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Revolution Medicines by 3.2% in the third quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock worth $266,935,000 after purchasing an additional 303,088 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Revolution Medicines by 242.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,282 shares of the company’s stock worth $324,000 after purchasing an additional 7,987 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Revolution Medicines (NASDAQ:RVMD)

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