Revolution Medicines (NASDAQ:RVMD) Shares Up 3.4% on Analyst Upgrade

by · The Markets Daily

Revolution Medicines, Inc. (NASDAQ:RVMD – Get Free Report)’s stock price shot up 3.4% during trading on Wednesday after Royal Bank Of Canada raised their price target on the stock from $259.00 to $260.00. Royal Bank Of Canada currently has an outperform rating on the stock. Revolution Medicines traded as high as $197.00 and last traded at $194.8310. Approximately 693,485 shares traded hands during trading, a decline of 76% from the average daily volume of 2,855,677 shares. The stock had previously closed at $188.44.

A number of other research firms also recently weighed in on RVMD. Oppenheimer increased their price objective on Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. The Goldman Sachs Group started coverage on Revolution Medicines in a report on Thursday, September 24th. They set a “buy” rating and a $267.00 target price on the stock. Guggenheim lifted their target price on Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Sanford C. Bernstein upped their price target on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a research report on Friday, August 21st. Finally, Wolfe Research reiterated an “outperform” rating and issued a $220.00 price target on shares of Revolution Medicines in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.81.

Get Our Latest Stock Analysis on Revolution Medicines

Insider Activity

In other news, insider Mark Goldsmith sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $209.20, for a total value of $16,736,000.00. Following the transaction, the insider owned 267,330 shares in the company, valued at approximately $55,925,436. The trade was a 23.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Kelsey sold 92,531 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $202.36, for a total transaction of $18,724,573.16. Following the completion of the transaction, the insider owned 291,876 shares in the company, valued at $59,064,027.36. This trade represents a 24.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 290,991 shares of company stock worth $59,422,765. 7.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of RVMD. Meeder Advisory Services Inc. boosted its stake in Revolution Medicines by 3.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after purchasing an additional 120 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Revolution Medicines by 147.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company’s stock valued at $41,000 after buying an additional 130 shares during the period. Burkett Financial Services LLC bought a new stake in shares of Revolution Medicines during the third quarter valued at about $27,000. Paragon Capital Management Ltd increased its position in shares of Revolution Medicines by 13.3% during the third quarter. Paragon Capital Management Ltd now owns 1,273 shares of the company’s stock valued at $261,000 after buying an additional 149 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Revolution Medicines by 7.9% in the third quarter. GAMMA Investing LLC now owns 2,266 shares of the company’s stock worth $465,000 after buying an additional 166 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

The stock has a market capitalization of $41.76 billion, a PE ratio of -22.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The business’s fifty day moving average price is $204.01 and its 200-day moving average price is $172.00.

Revolution Medicines (NASDAQ:RVMD – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the company posted ($1.31) EPS. As a group, equities research analysts expect that Revolution Medicines, Inc. will post -8.98 EPS for the current year.

Revolution Medicines Company Profile

(Get Free Report)

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted therapies for patients with cancer. The company’s research centers on the RAS signaling pathway, a key driver of tumor growth that is altered in many cancers, including those involving KRAS mutations.

Its pipeline includes RAS(ON) inhibitors designed to target active RAS proteins and address a range of RAS-driven tumors. Key development programs include daraxonrasib (RMC-6236), a broad-spectrum RAS inhibitor, and zoldonrasib (RMC-9805), an investigational inhibitor aimed at KRAS G12D-mutated cancers.

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