Piper Sandler Issues Positive Forecast for Revolution Medicines (NASDAQ:RVMD) Stock Price

Revolution Medicines (NASDAQ:RVMD) had its price objective boosted by equities research analysts at Piper Sandler from $57.00 to $70.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 22.51% from the stock’s previous close.

Several other research analysts have also weighed in on RVMD. HC Wainwright reiterated a “buy” rating and set a $56.00 target price on shares of Revolution Medicines in a report on Monday, August 12th. Wedbush reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $61.00 price target on shares of Revolution Medicines in a research report on Thursday, October 24th. Guggenheim upped their target price on shares of Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. dropped their price target on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $59.00.

Revolution Medicines Stock Down 3.8 %

NASDAQ RVMD traded down $2.28 during trading hours on Thursday, hitting $57.14. The company’s stock had a trading volume of 112,642 shares, compared to its average volume of 1,326,922. Revolution Medicines has a twelve month low of $18.79 and a twelve month high of $60.53. The firm has a market capitalization of $9.54 billion, a P/E ratio of -16.03 and a beta of 1.40. The stock has a fifty day moving average of $46.86 and a 200 day moving average of $42.89.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period last year, the business earned ($0.99) earnings per share. On average, analysts predict that Revolution Medicines will post -3.35 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.30, for a total value of $503,000.00. Following the transaction, the chief financial officer now owns 98,932 shares in the company, valued at approximately $4,976,279.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Barbara Weber sold 5,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the sale, the director now directly owns 13,065 shares in the company, valued at approximately $627,381.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.30, for a total transaction of $503,000.00. Following the sale, the chief financial officer now directly owns 98,932 shares in the company, valued at approximately $4,976,279.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,866 shares of company stock worth $6,355,624 over the last three months. Corporate insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

A number of hedge funds have recently made changes to their positions in RVMD. GAMMA Investing LLC raised its holdings in Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after buying an additional 222 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after acquiring an additional 320 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Revolution Medicines by 7.4% during the second quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock worth $205,000 after purchasing an additional 365 shares during the period. KBC Group NV lifted its holdings in shares of Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after purchasing an additional 368 shares during the period. Finally, Headlands Technologies LLC grew its stake in shares of Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

About Revolution Medicines

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.