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

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $66.25.

Several analysts have recently commented on RVMD shares. Oppenheimer raised their price target on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Needham & Company LLC restated a “buy” rating and set a $68.00 target price on shares of Revolution Medicines in a research report on Tuesday, December 3rd. Piper Sandler upped their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wedbush reiterated an “outperform” rating and issued a $70.00 price objective on shares of Revolution Medicines in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd.

Insider Buying and Selling at Revolution Medicines

In related news, Director Thilo Schroeder acquired 1,304,347 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were acquired at an average price of $46.00 per share, with a total value of $59,999,962.00. Following the completion of the purchase, the director now directly owns 2,096,612 shares in the company, valued at approximately $96,444,152. The trade was a 164.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 11,714 shares of Revolution Medicines stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the sale, the insider now owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. This represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,678 shares of company stock worth $847,981. 8.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

Institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp raised its holdings in Revolution Medicines by 17.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,055 shares of the company’s stock valued at $265,000 after acquiring an additional 885 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Revolution Medicines in the fourth quarter valued at $154,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Revolution Medicines by 21.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 262,851 shares of the company’s stock worth $11,497,000 after buying an additional 46,825 shares during the period. Voloridge Investment Management LLC boosted its stake in Revolution Medicines by 80.5% in the 4th quarter. Voloridge Investment Management LLC now owns 47,851 shares of the company’s stock worth $2,093,000 after buying an additional 21,337 shares during the last quarter. Finally, Woodline Partners LP grew its holdings in Revolution Medicines by 13.2% in the 4th quarter. Woodline Partners LP now owns 3,885,713 shares of the company’s stock valued at $169,961,000 after buying an additional 452,000 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Down 0.2 %

Shares of RVMD opened at $42.26 on Friday. The stock’s 50 day moving average is $42.57 and its two-hundred day moving average is $46.25. Revolution Medicines has a twelve month low of $28.43 and a twelve month high of $62.40. The firm has a market capitalization of $7.11 billion, a PE ratio of -11.77 and a beta of 1.45.

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.