Revolution Medicines (NASDAQ:RVMD) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a report published on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating on the stock.

RVMD has been the topic of a number of other research reports. Wolfe Research started coverage on shares of Revolution Medicines in a research note on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Evercore upgraded Revolution Medicines to a “strong-buy” rating in a research report on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Thursday, January 22nd. Finally, Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $78.94.

Revolution Medicines Stock Performance

RVMD stock opened at $99.00 on Monday. The company has a 50-day simple moving average of $103.29 and a 200 day simple moving average of $75.66. The company has a market capitalization of $19.62 billion, a P/E ratio of -16.75 and a beta of 0.99. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. Revolution Medicines has a fifty-two week low of $29.17 and a fifty-two week high of $124.49.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results 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 in the previous year, the business earned ($1.12) EPS. Sell-side analysts predict that Revolution Medicines will post -3.49 earnings per share for the current fiscal year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 6,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $101.30, for a total value of $607,800.00. Following the transaction, the insider owned 64,424 shares in the company, valued at $6,526,151.20. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $98.00, for a total value of $980,000.00. Following the completion of the transaction, the chief financial officer directly owned 108,065 shares in the company, valued at approximately $10,590,370. The trade was a 8.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 121,000 shares of company stock valued at $12,166,400. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds have recently added to or reduced their stakes in the company. General Atlantic L.P. acquired a new stake in Revolution Medicines in the third quarter valued at approximately $115,556,000. Norges Bank acquired a new position in shares of Revolution Medicines during the 4th quarter worth $195,568,000. Avoro Capital Advisors LLC acquired a new position in shares of Revolution Medicines during the 4th quarter worth $172,840,000. UBS Group AG raised its holdings 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 valued at $245,954,000 after purchasing an additional 1,998,972 shares in the last quarter. Finally, Polar Capital Holdings Plc raised its holdings in shares of 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 purchasing an additional 1,535,686 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.