Revolution Medicines (NASDAQ:RVMD) Research Coverage Started at Mizuho

Mizuho initiated coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a research report released on Tuesday, MarketBeat.com reports. The firm issued an outperform rating and a $90.00 price target on the stock.

A number of other brokerages also recently weighed in on RVMD. Lifesci Capital assumed coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They issued an “outperform” rating and a $80.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Revolution Medicines in a research note on Friday, October 17th. Piper Sandler assumed coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They issued an “overweight” rating and a $75.00 target price on the stock. Finally, Raymond James Financial raised their target price on shares of Revolution Medicines from $72.00 to $76.00 and gave the company a “strong-buy” rating in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $77.50.

Revolution Medicines Price Performance

RVMD stock opened at $53.44 on Tuesday. The firm has a 50 day moving average of $43.83 and a 200-day moving average of $40.14. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. Revolution Medicines has a 12 month low of $29.17 and a 12 month high of $62.40. The firm has a market capitalization of $9.99 billion, a P/E ratio of -11.88 and a beta of 1.27.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.37). During the same quarter in the prior year, the company posted ($0.81) EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Activity

In other Revolution Medicines news, CFO Jack Anders sold 5,238 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total transaction of $210,410.46. Following the transaction, the chief financial officer directly owned 113,314 shares of the company’s stock, valued at approximately $4,551,823.38. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Michael Kelsey sold 100,000 shares of Revolution Medicines stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $44.08, for a total transaction of $4,408,000.00. Following the transaction, the insider directly owned 289,414 shares in the company, valued at $12,757,369.12. This trade represents a 25.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 188,033 shares of company stock valued at $8,456,208. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Clear Harbor Asset Management LLC raised its stake in shares of Revolution Medicines by 61.2% during the third quarter. Clear Harbor Asset Management LLC now owns 22,110 shares of the company’s stock worth $1,033,000 after acquiring an additional 8,394 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Revolution Medicines by 150.4% in the third quarter. SG Americas Securities LLC now owns 10,714 shares of the company’s stock worth $500,000 after buying an additional 6,436 shares during the period. Avanza Fonder AB increased its stake in shares of Revolution Medicines by 17.5% in the third quarter. Avanza Fonder AB now owns 4,335 shares of the company’s stock worth $202,000 after buying an additional 647 shares during the period. Voya Investment Management LLC increased its stake in shares of Revolution Medicines by 2.0% in the third quarter. Voya Investment Management LLC now owns 47,534 shares of the company’s stock worth $2,220,000 after buying an additional 921 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Revolution Medicines by 45.1% in the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock worth $39,000 after buying an additional 260 shares during the period. 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.