Analysts Set Revolution Medicines, Inc. (NASDAQ:RVMD) Price Target at $66.67

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) have been assigned an average rating of "Buy" from the twelve research firms that are covering the company, Marketbeat.com reports. Twelve investment analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued a report on the stock in the last year is $66.67.

RVMD has been the topic of several research reports. Stifel Nicolaus lowered their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. UBS Group raised their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. HC Wainwright lifted their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Wedbush reissued an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Tuesday, April 8th.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the completion of the transaction, the insider now owns 441,564 shares in the company, valued at $17,238,658.56. This trade represents a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jack Anders sold 1,864 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the transaction, the chief financial officer now owns 115,006 shares of the company's stock, valued at $4,489,834.24. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock worth $650,406 over the last ninety days. 8.00% of the stock is currently owned by company insiders.

Institutional Trading of Revolution Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in RVMD. SG Americas Securities LLC increased its position in shares of Revolution Medicines by 516.0% during the first quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock valued at $640,000 after buying an additional 15,164 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Revolution Medicines during the 1st quarter valued at $1,252,000. Rhumbline Advisers increased its holdings in shares of Revolution Medicines by 2.3% in the first quarter. Rhumbline Advisers now owns 257,150 shares of the company's stock worth $9,093,000 after purchasing an additional 5,685 shares during the period. GAMMA Investing LLC raised its position in shares of Revolution Medicines by 3,501.9% in the first quarter. GAMMA Investing LLC now owns 21,287 shares of the company's stock worth $753,000 after buying an additional 20,696 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Revolution Medicines by 1.0% during the fourth quarter. California State Teachers Retirement System now owns 113,036 shares of the company's stock worth $4,944,000 after buying an additional 1,104 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Stock Down 0.8 %

RVMD traded down $0.28 during trading on Friday, hitting $35.93. The company's stock had a trading volume of 293,311 shares, compared to its average volume of 1,487,861. The firm has a market capitalization of $6.68 billion, a P/E ratio of -10.01 and a beta of 1.37. Revolution Medicines has a twelve month low of $29.17 and a twelve month high of $62.40. The stock's fifty day moving average price is $37.99 and its 200-day moving average price is $44.53.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Equities research analysts expect that Revolution Medicines will post -3.49 EPS for the current fiscal year.

About Revolution Medicines

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.