Revolution Medicines (NASDAQ:RVMD) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Revolution Medicines (NASDAQ:RVMD - Free Report) in a research report released on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $65.00 price objective on the stock.

Several other research firms have also recently issued reports on RVMD. Guggenheim reiterated a "buy" rating and issued a $80.00 price objective on shares of Revolution Medicines in a report on Wednesday, June 25th. HC Wainwright reiterated a "buy" rating and issued a $72.00 price objective (down from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Oppenheimer lifted their price objective on Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wedbush reiterated an "outperform" rating and issued a $73.00 price objective (up from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $57.00 price objective on shares of Revolution Medicines in a report on Tuesday, June 24th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $67.75.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD traded down $0.56 during trading on Tuesday, reaching $37.81. 1,574,754 shares of the company traded hands, compared to its average volume of 1,630,933. The firm's fifty day simple moving average is $39.20 and its 200 day simple moving average is $39.38. Revolution Medicines has a 12-month low of $29.17 and a 12-month high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter in the previous year, the business posted ($0.70) earnings per share. On average, equities analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of Revolution Medicines by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 12,792 shares of the company's stock valued at $452,000 after buying an additional 259 shares during the period. Russell Investments Group Ltd. raised its position in shares of Revolution Medicines by 11.4% during the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock valued at $186,000 after buying an additional 434 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Revolution Medicines by 5.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock valued at $498,000 after buying an additional 545 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 615 shares during the period. Finally, GF Fund Management CO. LTD. raised its position in shares of Revolution Medicines by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock valued at $152,000 after buying an additional 775 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

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.