Revolution Medicines (NASDAQ:RVMD) Hits New 12-Month High – Here’s Why

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $208.76 and last traded at $206.97, with a volume of 2100357 shares traded. The stock had previously closed at $205.15.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RVMD shares. Royal Bank Of Canada upped their price objective on shares of Revolution Medicines from $182.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Needham & Company LLC boosted their target price on shares of Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Piper Sandler lifted their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Wolfe Research reissued an “outperform” rating and set a $220.00 price objective on shares of Revolution Medicines in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $161.79.

Revolution Medicines Trading Down 0.1%

The business has a fifty day moving average price of $179.60 and a 200 day moving average price of $139.45. The company has a market capitalization of $44.00 billion, a PE ratio of -23.27 and a beta of 1.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period last year, the firm posted ($1.31) earnings per share. Analysts expect that Revolution Medicines, Inc. will post -8.72 EPS for the current fiscal year.

Insider Activity

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the sale, the director directly owned 21,656 shares in the company, valued at $4,071,111.44. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack Anders sold 20,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the sale, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at $20,749,870.77. The trade was a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 132,497 shares of company stock valued at $21,470,486 over the last quarter. 7.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

Large investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. purchased a new position in Revolution Medicines in the 2nd quarter worth approximately $32,000. Global Retirement Partners LLC lifted its position in shares of Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC purchased a new position in shares of Revolution Medicines in the fourth quarter valued at $33,000. Johnson Financial Group Inc. acquired a new stake in Revolution Medicines during the 2nd quarter valued at $37,000. Finally, Arax Advisory Partners purchased a new stake in Revolution Medicines during the 4th quarter worth $38,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Company Profile

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.