Revolution Medicines (NASDAQ:RVMD - Free Report) had its target price cut by Needham & Company LLC from $60.00 to $59.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.
RVMD has been the subject of several other research reports. HC Wainwright lifted their price objective on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Guggenheim increased their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Wedbush restated an "outperform" rating and issued a $70.00 price objective on shares of Revolution Medicines in a research note on Monday, December 2nd. Finally, Piper Sandler raised their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $66.31.
Read Our Latest Research Report on RVMD
Revolution Medicines Price Performance
Shares of RVMD stock traded down $2.40 during trading hours on Thursday, reaching $38.34. 1,576,369 shares of the company were exchanged, compared to its average volume of 1,333,453. Revolution Medicines has a fifty-two week low of $29.00 and a fifty-two week high of $62.40. The company has a market cap of $6.45 billion, a price-to-earnings ratio of -10.68 and a beta of 1.45. The stock's fifty day moving average is $42.15 and its two-hundred day moving average is $46.22.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.11). On average, research analysts anticipate that Revolution Medicines will post -3.49 earnings per share for the current year.
Insider Buying and Selling at Revolution Medicines
In other news, CFO Jack Anders sold 2,635 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the completion of the sale, the chief financial officer now owns 96,470 shares of the company's stock, valued at $4,379,738. The trade was a 2.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark A. Goldsmith sold 11,714 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $531,815.60. Following the sale, the insider now directly owns 325,056 shares in the company, valued at approximately $14,757,542.40. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,678 shares of company stock worth $847,981. 8.00% of the stock is owned by insiders.
Institutional Trading of Revolution Medicines
Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its stake in Revolution Medicines by 1,109.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 38,589 shares of the company's stock worth $1,750,000 after buying an additional 35,399 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Revolution Medicines by 22.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,041 shares of the company's stock worth $267,000 after purchasing an additional 1,115 shares in the last quarter. KBC Group NV lifted its position in Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company's stock worth $146,000 after buying an additional 368 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in Revolution Medicines in the third quarter valued at $216,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Revolution Medicines during the third quarter worth $1,220,000. 94.34% of the stock is currently owned by 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.
Further Reading
Before you consider Revolution Medicines, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Revolution Medicines wasn't on the list.
While Revolution Medicines currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
