Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) shares rose 3.9% during trading on Wednesday . The company traded as high as $38.29 and last traded at $38.40. Approximately 149,983 shares were traded during trading, a decline of 90% from the average daily volume of 1,498,390 shares. The stock had previously closed at $36.97.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. Guggenheim decreased their price target on Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a research report on Thursday, May 8th. Stifel Nicolaus lowered their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. HC Wainwright reaffirmed a "buy" rating and issued a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Finally, Wedbush reissued an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research report on Thursday, May 8th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Revolution Medicines has an average rating of "Buy" and an average target price of $67.08.
Check Out Our Latest Research Report on RVMD
Revolution Medicines Price Performance
The firm's fifty day moving average price is $37.56 and its 200-day moving average price is $41.82. The company has a market cap of $7.45 billion, a price-to-earnings ratio of -11.14 and a beta of 1.11.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter last year, the company earned ($0.70) earnings per share. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.
Insider Activity at Revolution Medicines
In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the transaction, the chief operating officer now owns 153,533 shares of the company's stock, valued at approximately $5,993,928.32. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark A. Goldsmith sold 11,738 shares of the company's 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 transaction, the insider now owns 441,564 shares in the company, valued at approximately $17,238,658.56. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 over the last quarter. 8.20% of the stock is owned by company insiders.
Institutional Trading of Revolution Medicines
A number of institutional investors have recently bought and sold shares of RVMD. IFP Advisors Inc acquired a new position in shares of Revolution Medicines in the 4th quarter valued at $34,000. Banque Transatlantique SA acquired a new stake in shares of Revolution Medicines in the 1st quarter valued at approximately $42,000. Quarry LP acquired a new position in Revolution Medicines during the first quarter valued at approximately $50,000. Twin Tree Management LP bought a new stake in Revolution Medicines in the first quarter valued at approximately $58,000. Finally, Sterling Capital Management LLC raised its holdings in Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after purchasing an additional 1,672 shares during the period. Institutional investors and hedge funds own 94.34% of the company's stock.
About Revolution Medicines
(
Get Free Report)
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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