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

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) has received a consensus rating of "Buy" from the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $66.31.

RVMD has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their price objective on Revolution Medicines from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC decreased their price objective on shares of Revolution Medicines from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, February 27th. UBS Group lifted their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Finally, Guggenheim lifted their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 3,058 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now owns 153,533 shares of the company's stock, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the sale, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,660 shares of company stock valued at $650,406. Corporate insiders own 8.00% of the company's stock.

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Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. IFP Advisors Inc purchased a new position in Revolution Medicines during the fourth quarter worth about $34,000. Quarry LP purchased a new position in shares of Revolution Medicines during the third quarter worth about $82,000. Sterling Capital Management LLC grew its holdings in shares of Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after purchasing an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Revolution Medicines in the fourth quarter valued at approximately $104,000. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Down 1.0 %

Revolution Medicines stock traded down $0.38 during midday trading on Tuesday, hitting $38.11. 2,499,644 shares of the stock were exchanged, compared to its average volume of 1,345,209. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of -10.62 and a beta of 1.46. Revolution Medicines has a 52-week low of $29.55 and a 52-week high of $62.40. The business's 50-day moving average price is $40.63 and its 200-day moving average price is $45.73.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.11). On average, sell-side analysts predict that Revolution Medicines will post -3.49 earnings per share for the current fiscal 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.