Revolution Medicines, Inc. (NASDAQ:RVMD) Given Consensus Recommendation of "Buy" by Brokerages

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) have been assigned an average recommendation of "Buy" from the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $61.00.

A number of equities analysts recently commented on the company. Bank of America lifted their price target on Revolution Medicines from $48.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, July 16th. Piper Sandler lifted their target price on Revolution Medicines from $57.00 to $70.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. HC Wainwright lifted their target price on Revolution Medicines from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Guggenheim lifted their target price on Revolution Medicines from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their target price on Revolution Medicines from $54.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th.

Revolution Medicines Stock Down 2.0 %

Shares of NASDAQ RVMD traded down $1.20 during midday trading on Wednesday, reaching $58.13. 1,141,594 shares of the company's stock were exchanged, compared to its average volume of 1,336,313. Revolution Medicines has a 52-week low of $20.47 and a 52-week high of $62.40. The business's fifty day moving average price is $48.28 and its two-hundred day moving average price is $43.62.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.05). During the same period last year, the business posted ($0.99) earnings per share. As a group, equities analysts anticipate that Revolution Medicines will post -3.51 earnings per share for the current fiscal year.

Insider Activity

In other 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 completion of the sale, the director now owns 13,065 shares in the company, valued at approximately $627,381.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 completion of the sale, the director now owns 13,065 shares in the company, valued at approximately $627,381.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Michael Kelsey sold 16,666 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total transaction of $824,800.34. Following the sale, the insider now directly owns 264,408 shares in the company, valued at approximately $13,085,551.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,866 shares of company stock worth $6,355,624. Insiders own 8.00% of the company's stock.

Institutional Trading of Revolution Medicines

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company's stock worth $28,000 after acquiring an additional 222 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company's stock worth $131,000 after buying an additional 320 shares during the last quarter. Amalgamated Bank increased its position in 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 last quarter. KBC Group NV increased 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 during the last quarter. Finally, Headlands Technologies LLC increased its position in Revolution Medicines by 140.9% during the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company's stock worth $49,000 after buying an additional 885 shares during the last quarter. 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.