Revolution Medicines' (RVMD) "Buy" Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Revolution Medicines (NASDAQ:RVMD - Free Report) in a research report sent to investors on Monday, Benzinga reports. They currently have a $44.00 price target on the stock.

A number of other analysts also recently commented on RVMD. Wedbush increased their price target on Revolution Medicines from $42.00 to $46.00 and gave the company an outperform rating in a research report on Thursday. Piper Sandler began coverage on Revolution Medicines in a research report on Monday, March 11th. They issued an overweight rating and a $43.00 target price for the company. Oppenheimer lifted their price objective on Revolution Medicines from $43.00 to $45.00 and gave the stock an outperform rating in a report on Friday, April 12th. Needham & Company LLC reissued a buy rating and issued a $46.00 price target on shares of Revolution Medicines in a research report on Thursday. Finally, Raymond James raised shares of Revolution Medicines from an outperform rating to a strong-buy rating and raised their price objective for the stock from $36.00 to $48.00 in a report on Wednesday, April 10th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of Buy and an average target price of $43.20.

Revolution Medicines Stock Down 0.2 %

NASDAQ:RVMD traded down $0.08 during trading hours on Monday, hitting $37.17. 1,453,278 shares of the company traded hands, compared to its average volume of 1,348,838. The company has a market cap of $6.13 billion, a PE ratio of -9.98 and a beta of 1.46. The firm's 50-day simple moving average is $34.06 and its 200-day simple moving average is $28.82. Revolution Medicines has a one year low of $15.44 and a one year high of $40.21.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, beating analysts' consensus estimates of ($0.75) by $0.05. The firm's revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.72) EPS. As a group, equities research analysts expect that Revolution Medicines will post -3.13 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, Director Sushil Patel sold 2,155 shares of the business's stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total transaction of $79,735.00. Following the completion of the transaction, the director now owns 15,700 shares of the company's stock, valued at $580,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Jeff Cislini sold 1,252 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the sale, the general counsel now owns 55,874 shares of the company's stock, valued at $1,764,500.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total transaction of $79,735.00. Following the completion of the transaction, the director now directly owns 15,700 shares in the company, valued at $580,900. The disclosure for this sale can be found here. Insiders have sold a total of 28,705 shares of company stock valued at $1,031,049 in the last 90 days. Corporate insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors have recently added to or reduced their stakes in RVMD. Headlands Technologies LLC raised its stake in shares of Revolution Medicines by 140.9% during the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company's stock valued at $49,000 after acquiring an additional 885 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Revolution Medicines by 101.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company's stock valued at $78,000 after acquiring an additional 1,409 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in Revolution Medicines in the fourth quarter worth $80,000. Allspring Global Investments Holdings LLC bought a new stake in Revolution Medicines in the first quarter valued at $104,000. Finally, Fred Alger Management LLC purchased a new position in Revolution Medicines during the 3rd quarter valued at $126,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

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.