Revolution Medicines (NASDAQ:RVMD) Price Target Cut to $78.00 by Analysts at Stifel Nicolaus

Revolution Medicines (NASDAQ:RVMD - Free Report) had its price objective lowered by Stifel Nicolaus from $80.00 to $78.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. increased their target price on Revolution Medicines from $63.00 to $71.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. HC Wainwright upped their price objective on Revolution Medicines from $64.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Wedbush reiterated an "outperform" rating and issued a $70.00 target price on shares of Revolution Medicines in a research note on Monday, December 2nd. Guggenheim increased their price target 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. Finally, UBS Group raised their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $66.31.

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Revolution Medicines Stock Down 5.9 %

NASDAQ:RVMD traded down $2.40 during mid-day trading on Thursday, reaching $38.34. The company's stock had a trading volume of 1,576,369 shares, compared to its average volume of 1,333,457. Revolution Medicines has a 1 year low of $29.00 and a 1 year high of $62.40. The stock has a fifty day moving average of $42.15 and a 200-day moving average of $46.22. The firm has a market capitalization of $6.45 billion, a PE ratio of -10.68 and a beta of 1.45.

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

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 4,329 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the sale, the chief operating officer now owns 127,991 shares in the company, valued at $5,810,791.40. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thilo Schroeder purchased 1,304,347 shares of Revolution Medicines stock in a transaction on Thursday, December 5th. The shares were acquired at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the completion of the transaction, the director now directly owns 2,096,612 shares in the company, valued at $96,444,152. The trade was a 164.64 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 18,678 shares of company stock valued at $847,981. Insiders own 8.00% of the company's stock.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds have recently added to or reduced their stakes in RVMD. IFP Advisors Inc purchased a new position in shares of Revolution Medicines during the 4th quarter valued at approximately $34,000. Quarry LP acquired a new position in Revolution Medicines during the third quarter worth $82,000. Sterling Capital Management LLC lifted its holdings in Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after purchasing an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC grew 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 valued at $90,000 after purchasing an additional 1,613 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in Revolution Medicines during the 4th quarter worth approximately $104,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

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.