Revolution Medicines’ (RVMD) Outperform Rating Reiterated at Wedbush

Revolution Medicines (NASDAQ:RVMD)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a note issued to investors on Monday,RTT News reports. They presently have a $70.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 35.14% from the company’s previous close.

A number of other research analysts have also issued reports on RVMD. JPMorgan Chase & Co. boosted their target price on shares of Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer increased their price objective on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Guggenheim lifted their target price on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Barclays raised their price target on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Finally, HC Wainwright upped their price objective on shares of Revolution Medicines from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $61.92.

Revolution Medicines Trading Down 10.5 %

RVMD traded down $6.05 on Monday, hitting $51.80. 4,272,994 shares of the company’s stock were exchanged, compared to its average volume of 1,341,757. The stock has a fifty day moving average of $51.89 and a two-hundred day moving average of $45.35. Revolution Medicines has a twelve month low of $23.38 and a twelve month high of $62.40. The firm has a market cap of $8.71 billion, a PE ratio of -14.43 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter last year, the business posted ($0.99) earnings per share. On average, analysts predict that Revolution Medicines will post -3.51 EPS for the current year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the completion of the transaction, the director now directly owns 13,065 shares in the company, valued at $627,381.30. This trade represents a 28.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.30, for a total transaction of $503,000.00. Following the completion of the transaction, the chief financial officer now directly owns 98,932 shares of the company’s stock, valued at $4,976,279.60. This represents a 9.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock valued at $6,355,624 in the last quarter. Insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

A number of hedge funds have recently modified their holdings of RVMD. SG Americas Securities LLC lifted its stake in Revolution Medicines by 17.5% in the 2nd quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock worth $416,000 after acquiring an additional 1,601 shares in the last quarter. Clear Harbor Asset Management LLC increased its stake in Revolution Medicines by 10.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock valued at $436,000 after buying an additional 1,036 shares during the period. Raymond James & Associates lifted its position in Revolution Medicines by 196.4% in the 2nd quarter. Raymond James & Associates now owns 74,370 shares of the company’s stock worth $2,886,000 after buying an additional 49,275 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Revolution Medicines by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 320 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Revolution Medicines by 21.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 645,253 shares of the company’s stock valued at $25,042,000 after acquiring an additional 115,844 shares in the last quarter. 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.