Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $66.67 Average PT from Analysts

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) have been given an average recommendation of "Buy" by the twelve research firms that are currently covering the stock, MarketBeat.com reports. Twelve research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $66.67.

RVMD has been the subject of several recent analyst reports. UBS Group upped 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. Wedbush reiterated an "outperform" rating and set a $67.00 target price on shares of Revolution Medicines in a research report on Thursday, February 27th. Stifel Nicolaus lowered their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $59.00 price objective on shares of Revolution Medicines in a report on Tuesday, April 8th. Finally, HC Wainwright lifted their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, March 3rd.

Revolution Medicines Price Performance

Shares of RVMD stock traded down $0.15 during trading hours on Friday, reaching $36.32. 1,145,490 shares of the company traded hands, compared to its average volume of 1,419,558. The firm has a 50-day moving average price of $38.26 and a 200 day moving average price of $44.65. The company has a market cap of $6.75 billion, a P/E ratio of -10.12 and a beta of 1.37. Revolution Medicines has a 12-month low of $29.17 and a 12-month high of $62.40.

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Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Sell-side analysts predict that Revolution Medicines will post -3.49 EPS for the current year.

Insider Buying and Selling

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the transaction, the chief operating officer now owns 153,533 shares in the company, valued at $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jack Anders sold 1,864 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 115,006 shares of the company's stock, 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. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 over the last quarter. 8.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Boxer Capital Management LLC purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at $187,184,000. Janus Henderson Group PLC boosted its holdings in Revolution Medicines by 54.5% in the fourth quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company's stock worth $414,777,000 after acquiring an additional 3,346,755 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock worth $747,799,000 after acquiring an additional 2,185,082 shares during the last quarter. Farallon Capital Management LLC increased its holdings in shares of Revolution Medicines by 17.1% during the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company's stock valued at $579,498,000 after acquiring an additional 1,931,000 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Revolution Medicines in the 3rd quarter worth approximately $83,082,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

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.