Revolution Medicines (NASDAQ:RVMD) Shares Up 3.9% – Should You Buy?

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) traded up 3.9% on Wednesday . The stock traded as high as $38.29 and last traded at $38.40. 149,983 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,498,390 shares. The stock had previously closed at $36.97.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RVMD. Needham & Company LLC reissued a “buy” rating and issued a $57.00 price target on shares of Revolution Medicines in a report on Thursday, May 8th. HC Wainwright restated a “buy” rating and set a $72.00 target price (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Wedbush reaffirmed an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, May 8th. Guggenheim dropped their target price on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Stifel Nicolaus reduced their price objective on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $67.08.

Revolution Medicines Trading Up 3.6%

The firm has a fifty day moving average of $37.54 and a two-hundred day moving average of $42.25. The company has a market capitalization of $7.14 billion, a PE ratio of -10.67 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same quarter in the prior year, the firm posted ($0.70) earnings per share. On average, equities analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In other news, COO Margaret A. Horn sold 3,058 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the sale, the chief operating officer now directly owns 153,533 shares in the company, valued at $5,993,928.32. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark A. Goldsmith sold 11,738 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the transaction, the insider now owns 441,564 shares in the company, valued at $17,238,658.56. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock valued at $650,406 in the last quarter. 8.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Revolution Medicines by 187.1% in the third quarter. Barclays PLC now owns 294,664 shares of the company’s stock valued at $13,362,000 after acquiring an additional 192,021 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Revolution Medicines by 92.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company’s stock worth $2,711,000 after purchasing an additional 29,853 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Revolution Medicines by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company’s stock worth $84,467,000 after purchasing an additional 167,997 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Revolution Medicines by 11.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock worth $186,000 after buying an additional 434 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new position in Revolution Medicines during the 4th quarter worth $6,798,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.