Revolution Medicines (NASDAQ:RVMD) Raised to Strong-Buy at Truist Financial

Key Points

• Truist Financial upgraded Revolution Medicines to a strong-buy; MarketBeat data shows the stock's average rating is "Buy" with a consensus target price of $78.94.
• Shares opened at $131.67 (12‑month range $34.00–$155.70), giving a market cap of about $26.09 billion, with 50‑ and 200‑day moving averages of $108.27 and $90.40 respectively.
• The company reported an EPS loss of -$1.86 last quarter (missing estimates) and analysts forecast -7.42 EPS for the year; insiders sold roughly 184,592 shares (~$24.5M) in the past 90 days.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) was upgraded by investment analysts at Truist Financial to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

RVMD has been the subject of a number of other reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Jefferies Financial Group began coverage on Revolution Medicines in a report on Monday, March 16th. They set a "buy" rating on the stock. HC Wainwright restated a "buy" rating on shares of Revolution Medicines in a research note on Wednesday, April 22nd. Evercore reaffirmed an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Finally, UBS Group assumed coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They set a "buy" rating on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Revolution Medicines presently has an average rating of "Buy" and a consensus target price of $78.94.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $131.67 on Monday. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. The firm has a market cap of $26.09 billion, a PE ratio of -22.28 and a beta of 1.01. Revolution Medicines has a 12 month low of $34.00 and a 12 month high of $155.70. The company's 50-day moving average price is $108.27 and its two-hundred day moving average price is $90.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period in the prior year, the business earned ($1.12) EPS. On average, equities analysts anticipate that Revolution Medicines will post -7.42 EPS for the current fiscal year.

Insider Activity

In other news, insider Stephen Michael Kelsey sold 4,302 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $427,962.96. Following the completion of the sale, the insider directly owned 295,398 shares of the company's stock, valued at approximately $29,386,193.04. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jack Anders sold 2,753 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $273,868.44. Following the sale, the chief financial officer owned 125,512 shares of the company's stock, valued at approximately $12,485,933.76. The trade was a 2.15% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 184,592 shares of company stock worth $24,499,532. 8.20% of the stock is owned by company insiders.

Institutional Trading of Revolution Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in RVMD. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Revolution Medicines by 194.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company's stock valued at $1,696,000 after buying an additional 14,062 shares during the period. New York State Common Retirement Fund grew its holdings in Revolution Medicines by 39.3% during the 3rd quarter. New York State Common Retirement Fund now owns 119,807 shares of the company's stock worth $5,595,000 after acquiring an additional 33,821 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Revolution Medicines during the 3rd quarter valued at $921,000. Mass General Brigham Inc bought a new stake in shares of Revolution Medicines during the 4th quarter valued at $27,407,000. Finally, NEOS Investment Management LLC lifted its stake in shares of Revolution Medicines by 34.7% in the 3rd quarter. NEOS Investment Management LLC now owns 126,921 shares of the company's stock valued at $5,927,000 after purchasing an additional 32,694 shares during the period. 94.34% of the stock is owned by institutional investors.

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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