Revolution Medicines (NASDAQ:RVMD) Reaches New 12-Month High - Still a Buy?

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $62.50 and last traded at $62.50, with a volume of 621 shares trading hands. The stock had previously closed at $60.44.

Analyst Ratings Changes

Several research firms have issued reports on RVMD. HC Wainwright lifted their price objective on Revolution Medicines from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday. Barclays upped their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Oppenheimer raised their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Piper Sandler upped their target price on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Wedbush reiterated an "outperform" rating and issued a $59.00 price target on shares of Revolution Medicines in a research note on Thursday, August 8th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $61.00.

Revolution Medicines Stock Performance

The firm has a market cap of $10.19 billion, a P/E ratio of -16.84 and a beta of 1.40. The firm has a fifty day moving average of $47.56 and a 200-day moving average of $43.27.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the prior year, the business earned ($0.99) EPS. Equities research analysts expect that Revolution Medicines, Inc. will post -3.42 earnings per share for the current year.

Insiders Place Their Bets

In other Revolution Medicines news, insider Mark A. Goldsmith sold 30,000 shares of Revolution Medicines stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the sale, the insider now owns 300,170 shares of the company's stock, valued at $15,116,561.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Mark A. Goldsmith sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the transaction, the insider now owns 300,170 shares in the company, valued at $13,486,638.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 30,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 300,170 shares of the company's stock, valued at approximately $15,116,561.20. The trade was 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

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in 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 in the last quarter. Headlands Technologies LLC boosted its holdings 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 in the last quarter. Values First Advisors Inc. acquired a new position in Revolution Medicines in the third quarter worth approximately $93,000. Allspring Global Investments Holdings LLC bought a new position in shares of Revolution Medicines in the first quarter valued at $104,000. Finally, EntryPoint Capital LLC bought a new position in shares of Revolution Medicines in the first quarter valued at $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.