Revolution Medicines (NASDAQ:RVMD) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a report released on Tuesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $75.00 price target on the stock.

Several other brokerages also recently weighed in on RVMD. Stifel Nicolaus began coverage on shares of Revolution Medicines in a research note on Wednesday, October 15th. They issued a “buy” rating and a $85.00 target price for the company. Royal Bank Of Canada started coverage on shares of Revolution Medicines in a report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price objective on the stock. National Bankshares set a $80.00 target price on Revolution Medicines in a research note on Friday, October 17th. Raymond James Financial lifted their target price on Revolution Medicines from $72.00 to $76.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Wednesday, October 8th. Two investment 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $78.50.

Revolution Medicines Price Performance

RVMD stock opened at $70.58 on Tuesday. The firm has a market cap of $13.64 billion, a P/E ratio of -13.65 and a beta of 1.25. 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 1 year low of $29.17 and a 1 year high of $70.92. The stock has a 50-day simple moving average of $52.34 and a 200-day simple moving average of $43.34.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same period in the previous year, the business earned ($0.94) earnings per share. On average, equities analysts predict that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 30,000 shares of Revolution Medicines stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $60.31, for a total value of $1,809,300.00. Following the completion of the transaction, the insider directly owned 347,863 shares in the company, valued at approximately $20,979,617.53. This trade represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Michael Kelsey sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.08, for a total value of $4,408,000.00. Following the sale, the insider owned 289,414 shares in the company, valued at $12,757,369.12. The trade was a 25.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 238,033 shares of company stock worth $11,566,908. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors and hedge funds have recently made changes to their positions in the company. Nextech Invest Ltd. boosted its holdings in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the period. Cerity Partners LLC boosted its holdings in shares of Revolution Medicines by 59.1% in the 1st quarter. Cerity Partners LLC now owns 9,069 shares of the company’s stock valued at $321,000 after buying an additional 3,370 shares during the period. Kestra Private Wealth Services LLC bought a new stake in shares of Revolution Medicines during the 1st quarter valued at about $216,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Revolution Medicines during the 1st quarter valued at about $2,343,000. Finally, KLP Kapitalforvaltning AS raised its stake in Revolution Medicines by 17.4% during the first quarter. KLP Kapitalforvaltning AS now owns 27,604 shares of the company’s stock worth $976,000 after acquiring an additional 4,100 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

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.