Revolution Medicines (NASDAQ:RVMD) Coverage Initiated at UBS Group

Research analysts at UBS Group assumed coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a report released on Friday. The brokerage set a “buy” rating on the stock.

A number of other equities analysts also recently issued reports on RVMD. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Royal Bank Of Canada initiated coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price target on the stock. HC Wainwright lifted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Revolution Medicines has a consensus rating of “Buy” and an average price target of $78.94.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $102.15 on Friday. The stock has a market cap of $19.75 billion, a price-to-earnings ratio of -17.28 and a beta of 1.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05. Revolution Medicines has a fifty-two week low of $29.17 and a fifty-two week high of $124.49. The firm’s 50-day simple moving average is $98.72 and its 200 day simple moving average is $69.89.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same quarter last year, the firm posted ($1.12) earnings per share. As a group, research analysts anticipate that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Activity

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 5,447 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total transaction of $418,438.54. Following the sale, the insider directly owned 278,600 shares in the company, valued at $21,402,052. This represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark A. Goldsmith sold 15,394 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $1,182,567.08. Following the sale, the insider owned 232,469 shares in the company, valued at $17,858,268.58. The trade was a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 113,792 shares of company stock valued at $10,734,640. Company insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund increased its stake in shares of Revolution Medicines by 39.3% during the third quarter. New York State Common Retirement Fund now owns 119,807 shares of the company’s stock valued at $5,595,000 after acquiring an additional 33,821 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Revolution Medicines in the third quarter worth approximately $921,000. NEOS Investment Management LLC raised its stake in Revolution Medicines by 34.7% during the 3rd quarter. NEOS Investment Management LLC now owns 126,921 shares of the company’s stock valued at $5,927,000 after purchasing an additional 32,694 shares during the period. Tema Etfs LLC lifted its stake in Revolution Medicines by 34.7% in the 3rd quarter. Tema Etfs LLC now owns 126,921 shares of the company’s stock worth $5,927,000 after acquiring an additional 32,694 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Revolution Medicines during the third quarter worth approximately $587,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Company Profile

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.