Revolution Medicines (NASDAQ:RVMD) Hits New 12-Month High on Analyst Upgrade

Revolution Medicines, Inc. (NASDAQ:RVMD) reached a new 52-week high during trading on Monday after Mizuho raised their price target on the stock from $185.00 to $215.00. Mizuho currently has an outperform rating on the stock. Revolution Medicines traded as high as $193.36 and last traded at $189.9170, with a volume of 130502 shares changing hands. The stock had previously closed at $189.24.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating on the stock. Guggenheim boosted their target price on shares of Revolution Medicines to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Finally, Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.33.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,020 shares of Revolution Medicines stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the completion of the transaction, the insider directly owned 267,330 shares of the company’s stock, valued at $41,735,559.60. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 29,600 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the transaction, the chief operating officer owned 154,647 shares in the company, valued at $24,762,077.64. This trade represents a 16.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 252,497 shares of company stock valued at $39,481,286 over the last 90 days. 7.60% of the stock is currently owned by insiders.

Institutional Trading of Revolution Medicines

Several institutional investors have recently added to or reduced their stakes in the company. General Atlantic L.P. purchased a new position in shares of Revolution Medicines during the third quarter valued at approximately $115,556,000. Norges Bank purchased a new stake in shares of Revolution Medicines in the fourth quarter worth approximately $195,568,000. Avoro Capital Advisors LLC purchased a new stake in shares of Revolution Medicines in the fourth quarter worth approximately $172,840,000. UBS Group AG lifted its stake in shares of Revolution Medicines by 183.6% during the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock worth $245,954,000 after acquiring an additional 1,998,972 shares during the last quarter. Finally, Polar Capital Holdings Plc boosted its holdings in Revolution Medicines by 321.2% during the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock valued at $160,398,000 after acquiring an additional 1,535,686 shares during the period. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Up 1.4%

The stock has a fifty day moving average of $156.00 and a 200-day moving average of $120.84. The company has a market cap of $40.80 billion, a PE ratio of -27.18 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period last year, the firm posted ($1.13) earnings per share. Sell-side analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current fiscal year.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.