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

Key Points

• Revolution Medicines, Inc. has received an average recommendation of "Moderate Buy" from fifteen brokerages, with a price target averaging $74.64.
• Insider transactions indicated significant stock sales, with insider Stephen Michael Kelsey selling over 5,367 shares at an average price of $45.82.
• Institutional investors own 94.34% of the company's stock and have recently made notable changes to their positions, including a 64.7% increase by Harbor Capital Advisors.

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $74.6429.

Several equities analysts have commented on RVMD shares. Needham & Company LLC raised their target price on shares of Revolution Medicines from $56.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Revolution Medicines in a research note on Saturday, September 27th. Wells Fargo & Company upped their price target on shares of Revolution Medicines from $67.00 to $70.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Raymond James Financial assumed coverage on shares of Revolution Medicines in a research note on Friday, September 12th. They issued a "strong-buy" rating and a $72.00 price target for the company. Finally, The Goldman Sachs Group upped their price target on shares of Revolution Medicines from $65.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, September 12th.

Insider Buying and Selling

In other news, insider Stephen Michael Kelsey sold 5,367 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $245,915.94. Following the completion of the sale, the insider directly owned 284,047 shares of the company's stock, valued at approximately $13,015,033.54. This represents a 1.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark A. Goldsmith sold 13,411 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $614,492.02. Following the transaction, the insider owned 452,309 shares of the company's stock, valued at approximately $20,724,798.38. This trade represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,033 shares of company stock worth $7,242,708. Company insiders own 8.20% of the company's stock.

Hedge Funds Weigh In On Revolution Medicines

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Revolution Medicines by 11.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock valued at $232,000 after purchasing an additional 615 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Revolution Medicines by 64.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company's stock valued at $2,146,000 after purchasing an additional 22,906 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Revolution Medicines during the 1st quarter valued at about $502,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Revolution Medicines by 6.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,004 shares of the company's stock valued at $3,870,000 after purchasing an additional 6,877 shares in the last quarter. Finally, Atle Fund Management AB boosted its position in shares of Revolution Medicines by 49.7% during the 2nd quarter. Atle Fund Management AB now owns 82,275 shares of the company's stock valued at $3,027,000 after purchasing an additional 27,314 shares in the last quarter. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $46.71 on Friday. Revolution Medicines has a 52 week low of $29.17 and a 52 week high of $62.40. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of -10.38 and a beta of 1.27. The company has a 50-day moving average price of $40.01 and a two-hundred day moving average price of $38.80.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same period in the previous year, the company posted ($0.81) EPS. The business's revenue for the quarter was up .0% on a year-over-year basis. Analysts forecast that Revolution Medicines will post -3.49 EPS for the current year.

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.

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