Revolution Medicines, Inc. (NASDAQ:RVMD) Given Average Rating of "Buy" by Analysts

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has been given an average recommendation of "Buy" by the eleven analysts that are covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $53.45.

A number of analysts have recently weighed in on RVMD shares. Bank of America raised their price target on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, July 16th. Barclays lifted their price target on shares of Revolution Medicines from $52.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 18th. HC Wainwright reiterated a "buy" rating and set a $56.00 price objective on shares of Revolution Medicines in a report on Monday, August 12th. Needham & Company LLC dropped their target price on Revolution Medicines from $62.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Finally, Wedbush reaffirmed an "outperform" rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $44.00, for a total transaction of $94,820.00. Following the completion of the sale, the director now directly owns 19,948 shares in the company, valued at approximately $877,712. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, General Counsel Jeff Cislini sold 2,399 shares of the firm's stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $40.83, for a total transaction of $97,951.17. Following the sale, the general counsel now owns 47,088 shares of the company's stock, valued at approximately $1,922,603.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $44.00, for a total transaction of $94,820.00. Following the transaction, the director now directly owns 19,948 shares of the company's stock, valued at $877,712. The disclosure for this sale can be found here. Insiders sold a total of 58,221 shares of company stock worth $2,629,277 over the last three months. 8.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Headlands Technologies LLC raised its holdings in Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company's stock worth $49,000 after purchasing an additional 885 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Revolution Medicines in the 1st quarter valued at $104,000. EntryPoint Capital LLC acquired a new stake in Revolution Medicines in the 1st quarter valued at $107,000. Nisa Investment Advisors LLC increased its holdings in Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company's stock worth $131,000 after acquiring an additional 320 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Revolution Medicines by 7.4% during the second quarter. Amalgamated Bank now owns 5,272 shares of the company's stock valued at $205,000 after purchasing an additional 365 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Stock Up 4.2 %

RVMD stock traded up $1.77 during trading on Tuesday, hitting $44.40. 1,633,384 shares of the company's stock traded hands, compared to its average volume of 1,341,204. The business has a fifty day simple moving average of $43.87 and a two-hundred day simple moving average of $39.40. The firm has a market capitalization of $7.33 billion, a P/E ratio of -11.84 and a beta of 1.43. Revolution Medicines has a 1 year low of $15.44 and a 1 year high of $48.61.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $1.00 million during the quarter, compared to analysts' expectations of $0.81 million. During the same period last year, the firm posted ($0.92) earnings per share. The company's quarterly revenue was down 73.8% on a year-over-year basis. On average, equities research analysts predict that Revolution Medicines will post -3.47 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.