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

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) have received an average recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $200.7368.

Several equities analysts have recently issued reports on RVMD shares. Oppenheimer upped their price objective on shares of Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday. Wedbush boosted their price objective on Revolution Medicines from $201.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Mizuho increased their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Sanford C. Bernstein increased their price target on Revolution Medicines from $151.00 to $179.00 and gave the stock a “market perform” rating in a research report on Friday, August 21st. Finally, UBS Group boosted their price target on shares of Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a report on Friday.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 29,600 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the transaction, the chief operating officer owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the sale, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 212,497 shares of company stock worth $38,206,486 in the last 90 days. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Revolution Medicines

Hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LP increased its position in shares of Revolution Medicines by 5.9% during the second quarter. Corient Private Wealth LP now owns 10,537 shares of the company’s stock valued at $1,973,000 after acquiring an additional 583 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Revolution Medicines by 311.2% in the second quarter. HighTower Advisors LLC now owns 10,485 shares of the company’s stock valued at $1,964,000 after purchasing an additional 7,935 shares during the period. California State Teachers Retirement System grew its position in shares of Revolution Medicines by 26,920.9% during the second quarter. California State Teachers Retirement System now owns 44,659,351 shares of the company’s stock worth $8,363,803,000 after buying an additional 44,494,074 shares in the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Revolution Medicines in the 2nd quarter valued at approximately $90,000. Finally, Readystate Asset Management LP increased its holdings in Revolution Medicines by 18.5% in the second quarter. Readystate Asset Management LP now owns 37,727 shares of the company’s stock valued at $7,066,000 after buying an additional 5,880 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $205.57 on Tuesday. The business’s fifty day simple moving average is $194.12 and its 200-day simple moving average is $149.73. The company has a market cap of $44.06 billion, a PE ratio of -23.31 and a beta of 1.39. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines has a 12-month low of $37.56 and a 12-month high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the previous year, the business earned ($1.31) earnings per share. Analysts expect that Revolution Medicines will post -8.85 earnings per share for the current fiscal year.

About Revolution Medicines

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.