HC Wainwright Issues Positive Forecast for Revolution Medicines (NASDAQ:RVMD) Stock Price

Revolution Medicines (NASDAQ:RVMD) had its price target lifted by HC Wainwright from $72.00 to $73.00 in a report published on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC dropped their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Guggenheim raised their target price on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus dropped their target price on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research note on Thursday, February 27th. Finally, UBS Group lifted their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $66.31.

Revolution Medicines Stock Up 4.4 %

Shares of RVMD opened at $39.62 on Monday. Revolution Medicines has a twelve month low of $29.55 and a twelve month high of $62.40. The firm has a 50 day moving average of $41.81 and a 200 day moving average of $46.10. The company has a market capitalization of $7.37 billion, a P/E ratio of -11.04 and a beta of 1.46.

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

Insider Activity at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 11,714 shares of Revolution Medicines stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $531,815.60. Following the transaction, the insider now owns 325,056 shares in the company, valued at approximately $14,757,542.40. The trade was a 3.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Margaret A. Horn sold 4,329 shares of Revolution Medicines stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $196,536.60. Following the transaction, the chief operating officer now owns 127,991 shares in the company, valued at approximately $5,810,791.40. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,678 shares of company stock worth $847,981. 8.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. IFP Advisors Inc purchased a new position in shares of Revolution Medicines during the 4th quarter valued at $34,000. Quarry LP bought a new stake in Revolution Medicines in the 3rd quarter valued at $82,000. Sterling Capital Management LLC increased its holdings in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after acquiring an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after acquiring an additional 1,613 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Revolution Medicines in the 4th quarter valued at $104,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

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.