Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report)'s stock price rose 5.8% during trading on Monday . The stock traded as high as $41.10 and last traded at $41.02. Approximately 211,073 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,489,120 shares. The stock had previously closed at $38.77.
Analyst Ratings Changes
A number of research firms have recently issued reports on RVMD. UBS Group increased their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Wedbush reiterated an "outperform" rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Monday. Stifel Nicolaus decreased their price objective on 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 lifted their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $59.00 price target on shares of Revolution Medicines in a research report on Tuesday, April 8th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $66.67.
Get Our Latest Stock Analysis on Revolution Medicines
Revolution Medicines Stock Performance
The stock's 50 day simple moving average is $37.35 and its 200-day simple moving average is $43.84. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of -11.32 and a beta of 1.37.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, analysts expect that Revolution Medicines, Inc. will post -3.49 EPS 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 company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the transaction, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the business's 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 sale, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at $4,489,834.24. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock worth $650,406 over the last three months. Company insiders own 8.00% of the company's stock.
Institutional Investors Weigh In On Revolution Medicines
Large investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in shares of Revolution Medicines by 20.6% in the first quarter. Arizona State Retirement System now owns 40,894 shares of the company's stock worth $1,446,000 after acquiring an additional 6,989 shares during the last quarter. Xponance Inc. lifted its holdings in Revolution Medicines by 6.7% in the 1st quarter. Xponance Inc. now owns 12,937 shares of the company's stock valued at $457,000 after purchasing an additional 810 shares in the last quarter. Cerity Partners LLC boosted its stake in Revolution Medicines by 59.1% during the 1st quarter. Cerity Partners LLC now owns 9,069 shares of the company's stock worth $321,000 after purchasing an additional 3,370 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Revolution Medicines by 45.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 89,962 shares of the company's stock worth $3,181,000 after buying an additional 27,982 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Revolution Medicines by 2.4% during the first quarter. Bank of New York Mellon Corp now owns 582,721 shares of the company's stock worth $20,605,000 after buying an additional 13,706 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.
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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