Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $66.25 Average PT from Brokerages

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) have been assigned an average rating of "Buy" from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $66.25.

RVMD has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $68.00 price target on shares of Revolution Medicines in a research report on Tuesday, December 3rd. HC Wainwright lifted their price target on Revolution Medicines from $64.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on Revolution Medicines from $63.00 to $71.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. UBS Group increased their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, Oppenheimer increased their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th.

Revolution Medicines Trading Down 2.2 %

NASDAQ RVMD traded down $0.92 during mid-day trading on Friday, reaching $41.34. 1,119,232 shares of the company's stock traded hands, compared to its average volume of 1,272,072. Revolution Medicines has a 1-year low of $28.65 and a 1-year high of $62.40. The company has a fifty day simple moving average of $42.57 and a 200-day simple moving average of $46.25. The company has a market cap of $6.95 billion, a price-to-earnings ratio of -11.52 and a beta of 1.45.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 4,329 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $196,536.60. Following the completion of the transaction, the chief operating officer now directly owns 127,991 shares in the company, valued at $5,810,791.40. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jack Anders sold 2,635 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the transaction, the chief financial officer now directly owns 96,470 shares of the company's stock, valued at approximately $4,379,738. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,678 shares of company stock valued at $847,981 in the last three months. 8.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Creative Planning grew its stake in shares of Revolution Medicines by 40.1% in the 3rd quarter. Creative Planning now owns 37,868 shares of the company's stock worth $1,717,000 after purchasing an additional 10,839 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in Revolution Medicines during the 3rd quarter worth about $246,000. Raymond James & Associates increased its position in shares of Revolution Medicines by 156.2% in the third quarter. Raymond James & Associates now owns 190,505 shares of the company's stock worth $8,639,000 after acquiring an additional 116,135 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Revolution Medicines by 1,109.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 38,589 shares of the company's stock valued at $1,750,000 after acquiring an additional 35,399 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in shares of Revolution Medicines in the 3rd quarter valued at approximately $93,000. 94.34% of the stock is owned by institutional investors and hedge funds.

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.