Stifel Nicolaus Has Lowered Expectations for Revolution Medicines (NASDAQ:RVMD) Stock Price

Revolution Medicines (NASDAQ:RVMD - Free Report) had its target price reduced by Stifel Nicolaus from $78.00 to $64.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Guggenheim upped their target price on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price objective on Revolution Medicines from $63.00 to $71.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Wedbush reissued an "outperform" rating and set a $67.00 target price on shares of Revolution Medicines in a research report on Thursday, February 27th. HC Wainwright increased their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Finally, UBS Group increased their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $65.23.

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Revolution Medicines Stock Down 4.7 %

NASDAQ RVMD traded down $1.55 during trading on Tuesday, hitting $31.32. 2,376,753 shares of the stock traded hands, compared to its average volume of 1,406,349. The company has a market capitalization of $5.82 billion, a P/E ratio of -8.72 and a beta of 1.37. The firm has a 50-day simple moving average of $39.61 and a 200-day simple moving average of $45.24. Revolution Medicines has a 12-month low of $29.55 and a 12-month high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted 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). As a group, research analysts predict that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,738 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the transaction, the insider now owns 441,564 shares in the company, valued at $17,238,658.56. This represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the business's 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 $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock valued at $650,406 in the last quarter. 8.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Revolution Medicines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RVMD. Wilmington Savings Fund Society FSB purchased a new stake in Revolution Medicines in the third quarter valued at approximately $801,000. State Street Corp increased its stake in shares of Revolution Medicines by 4.1% in the third quarter. State Street Corp now owns 5,279,584 shares of the company's stock worth $239,429,000 after acquiring an additional 208,516 shares during the period. Barclays PLC raised its holdings in shares of Revolution Medicines by 187.1% during the third quarter. Barclays PLC now owns 294,664 shares of the company's stock worth $13,362,000 after purchasing an additional 192,021 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Revolution Medicines during the third quarter valued at $1,210,000. Finally, Cinctive Capital Management LP boosted its holdings in Revolution Medicines by 132.7% in the third quarter. Cinctive Capital Management LP now owns 53,361 shares of the company's stock valued at $2,420,000 after purchasing an additional 30,430 shares during the last quarter. Institutional investors and hedge funds 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.