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

Key Points

• Analysts remain broadly bullish on Revolution Medicines, with 18 buy ratings and one strong-buy rating among 21 analysts, producing a “Moderate Buy” consensus and an average 12-month price target of $167.89.
• RVMD shares opened at $211.58, near their 12-month high of $220.34, despite the company reporting a quarterly loss of $3.06 per share that missed the $2.04 consensus estimate.
• Institutional investors own 94.34% of the stock, while insiders have sold $21.47 million of shares over the past three months; the company continues developing targeted therapies for RAS-driven cancers.

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty-one analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $167.8889.

RVMD has been the topic of several analyst reports. Royal Bank Of Canada lifted their price target on Revolution Medicines from $182.00 to $203.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Wolfe Research restated an "outperform" rating and set a $220.00 price objective on shares of Revolution Medicines in a research report on Monday, August 10th. HC Wainwright reaffirmed a "buy" rating and set a $195.00 target price on shares of Revolution Medicines in a research note on Monday, July 6th. Sanford C. Bernstein boosted their target price on shares of Revolution Medicines from $151.00 to $179.00 and gave the company a "market perform" rating in a report on Friday. Finally, 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.

Revolution Medicines Stock Up 1.0%

Shares of NASDAQ RVMD opened at $211.58 on Tuesday. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $189.02 and a 200 day moving average of $145.65. Revolution Medicines has a 12-month low of $35.62 and a 12-month high of $220.34. The stock has a market cap of $45.35 billion, a PE ratio of -23.99 and a beta of 1.39.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the previous year, the business earned ($1.31) earnings per share. As a group, sell-side analysts predict that Revolution Medicines will post -8.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Sushil Patel sold 5,580 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the transaction, the director owned 21,656 shares of the company's stock, valued at $4,071,111.44. This represents a 20.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $3,366,600.00. Following the transaction, the chief financial officer owned 123,269 shares of the company's stock, valued at approximately $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 132,497 shares of company stock valued at $21,470,486. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its stake in shares of Revolution Medicines by 26,920.9% in the 2nd quarter. California State Teachers Retirement System now owns 44,659,351 shares of the company's stock valued at $8,363,803,000 after acquiring an additional 44,494,074 shares during the period. Vanguard Group Inc. boosted its position in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company's stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares during the period. Janus Henderson Group PLC boosted its position in shares of Revolution Medicines by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company's stock worth $980,036,000 after purchasing an additional 947,448 shares during the period. Nextech Invest Ltd. increased its holdings in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP increased its holdings in Revolution Medicines by 6.8% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company's stock valued at $529,227,000 after purchasing an additional 421,112 shares during the last quarter. Hedge funds and other institutional investors 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.

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