Revolution Medicines (NASDAQ:RVMD) Sets New 1-Year High - What's Next?

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $56.85 and last traded at $56.83, with a volume of 504765 shares traded. The stock had previously closed at $55.87.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RVMD shares. Barclays boosted their price objective on Revolution Medicines from $54.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, September 27th. Guggenheim upped their target price on shares of Revolution Medicines from $72.00 to $82.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Jefferies Financial Group started coverage on shares of Revolution Medicines in a research note on Monday, July 8th. They issued a "buy" rating and a $63.00 price objective for the company. Oppenheimer boosted their target price on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Monday, October 28th. Finally, HC Wainwright reiterated a "buy" rating and issued a $56.00 target price on shares of Revolution Medicines in a research note on Monday, August 12th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $56.75.

Revolution Medicines Stock Up 1.6 %

The company has a fifty day moving average of $46.26 and a 200 day moving average of $42.62.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts' consensus estimates of ($0.77) by ($0.04). The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.81 million. The business's revenue for the quarter was down 73.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.92) earnings per share. On average, analysts forecast that Revolution Medicines, Inc. will post -3.35 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the transaction, the insider now directly owns 300,170 shares of the company's stock, valued at $13,486,638.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Mark A. Goldsmith sold 10,000 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total value of $449,300.00. Following the transaction, the insider now directly owns 300,170 shares of the company's stock, valued at $13,486,638.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 30,000 shares of the company's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.36, for a total value of $1,510,800.00. Following the completion of the sale, the insider now owns 300,170 shares in the company, valued at approximately $15,116,561.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,866 shares of company stock valued at $6,355,624 in the last ninety days. Corporate insiders own 8.00% of the company's stock.

Institutional Trading of Revolution Medicines

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company's stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. Headlands Technologies LLC raised its stake in Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company's stock valued at $49,000 after buying an additional 885 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Revolution Medicines during the 3rd quarter worth about $93,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Revolution Medicines during the 1st quarter worth about $104,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Revolution Medicines in the 1st quarter valued at about $107,000. 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.

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