Revolution Medicines (NASDAQ:RVMD) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Revolution Medicines (NASDAQ:RVMD) in a research report released on Monday, Benzinga reports. The firm currently has a $56.00 price objective on the stock.

RVMD has been the subject of a number of other reports. Barclays increased their price target on Revolution Medicines from $52.00 to $54.00 and gave the company an overweight rating in a research note on Thursday, July 18th. Bank of America boosted their price target on Revolution Medicines from $48.00 to $55.00 and gave the stock a buy rating in a report on Tuesday, July 16th. Oppenheimer raised their price objective on shares of Revolution Medicines from $45.00 to $55.00 and gave the company an outperform rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. reduced their target price on shares of Revolution Medicines from $55.00 to $54.00 and set an overweight rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC decreased their price target on shares of Revolution Medicines from $62.00 to $61.00 and set a buy rating for the company in a research report 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $52.92.

Revolution Medicines Trading Down 1.0 %

Shares of NASDAQ RVMD opened at $42.58 on Monday. The stock has a 50-day moving average price of $41.86 and a two-hundred day moving average price of $36.59. Revolution Medicines has a 12 month low of $15.44 and a 12 month high of $48.61. The company has a market cap of $7.11 billion, a price-to-earnings ratio of -11.35 and a beta of 1.44.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.81 million. During the same period last year, the company posted ($0.92) EPS. Revolution Medicines’s quarterly revenue was down 73.8% compared to the same quarter last year. On average, sell-side analysts predict that Revolution Medicines will post -3.34 earnings per share for the current year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 16,667 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $46.47, for a total transaction of $774,515.49. Following the sale, the insider now owns 269,073 shares of the company’s stock, valued at $12,503,822.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Revolution Medicines news, insider Stephen Michael Kelsey sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $46.47, for a total value of $774,515.49. Following the transaction, the insider now directly owns 269,073 shares of the company’s stock, valued at $12,503,822.31. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Jeff Cislini sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total value of $76,940.00. Following the transaction, the general counsel now owns 49,487 shares in the company, valued at $1,903,764.89. The disclosure for this sale can be found here. Insiders have sold a total of 58,421 shares of company stock worth $2,637,077 over the last quarter. Company insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bellevue Group AG grew its stake in shares of Revolution Medicines by 7.8% in the 4th quarter. Bellevue Group AG now owns 5,091,000 shares of the company’s stock valued at $146,010,000 after buying an additional 369,500 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Revolution Medicines during the first quarter valued at approximately $6,656,000. Mass General Brigham Inc acquired a new position in shares of Revolution Medicines during the first quarter worth approximately $10,900,000. Finepoint Capital LP lifted its holdings in shares of Revolution Medicines by 44.5% in the 4th quarter. Finepoint Capital LP now owns 617,100 shares of the company’s stock worth $17,698,000 after purchasing an additional 190,100 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Revolution Medicines by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock valued at $475,622,000 after purchasing an additional 122,721 shares during the period. 94.34% of the stock is owned by institutional investors.

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.