Revolution Medicines, Inc. (NASDAQ:RVMD) Receives Average Recommendation of "Buy" from Brokerages

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) have received a consensus recommendation of "Buy" from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $65.82.

RVMD has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price 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. Needham & Company LLC reiterated a "buy" rating and set a $68.00 price target on shares of Revolution Medicines in a report on Tuesday, December 3rd. Wedbush restated an "outperform" rating and set a $70.00 target price on shares of Revolution Medicines in a report on Monday, December 2nd. Guggenheim lifted their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their price objective on Revolution Medicines from $54.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, September 27th.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction of $249,704.00. Following the sale, the director now owns 13,065 shares of the company's stock, valued at approximately $627,381.30. This trade represents a 28.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Margaret A. Horn sold 4,329 shares of the company'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 $196,536.60. Following the transaction, the chief operating officer now directly owns 127,991 shares in the company, valued at $5,810,791.40. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,544 shares of company stock worth $6,754,306. Corporate insiders own 8.00% of the company's stock.

Institutional Trading of Revolution Medicines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company's stock valued at $28,000 after acquiring an additional 222 shares during the period. Captrust Financial Advisors increased its holdings in shares of Revolution Medicines by 4.1% in the 3rd quarter. Captrust Financial Advisors now owns 8,459 shares of the company's stock valued at $384,000 after acquiring an additional 337 shares during the period. Amalgamated Bank boosted its stake in shares of Revolution Medicines by 7.4% during the second quarter. Amalgamated Bank now owns 5,272 shares of the company's stock worth $205,000 after buying an additional 365 shares during the period. KBC Group NV increased its holdings in shares of Revolution Medicines by 12.9% in the third quarter. KBC Group NV now owns 3,221 shares of the company's stock valued at $146,000 after purchasing an additional 368 shares during the period. Finally, Seven Eight Capital LP lifted its stake in shares of Revolution Medicines by 1.6% in the 2nd quarter. Seven Eight Capital LP now owns 69,602 shares of the company's stock worth $2,701,000 after acquiring an additional 1,108 shares during the period. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Trading Up 0.6 %

NASDAQ:RVMD traded up $0.26 during trading hours on Thursday, hitting $44.00. The company's stock had a trading volume of 763,093 shares, compared to its average volume of 1,390,445. The stock has a fifty day moving average of $51.06 and a 200-day moving average of $46.32. The stock has a market capitalization of $7.40 billion, a P/E ratio of -12.26 and a beta of 1.40. Revolution Medicines has a 52-week low of $25.93 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the previous year, the firm earned ($0.99) earnings per share. On average, sell-side analysts forecast that Revolution Medicines will post -3.5 earnings per share for the current year.

Revolution Medicines Company Profile

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.