Revolution Medicines (NASDAQ:RVMD) Stock Rating Upgraded by Truist Financial

Revolution Medicines (NASDAQ:RVMD) was upgraded by analysts at Truist Financial to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on RVMD. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. UBS Group assumed coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating for the company. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Thursday, January 22nd. Finally, Evercore upgraded Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, February 25th. Five investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $78.94.

Revolution Medicines Stock Down 1.1%

Shares of NASDAQ:RVMD opened at $93.21 on Wednesday. The stock has a 50-day simple moving average of $100.92 and a 200-day simple moving average of $78.34. The stock has a market capitalization of $18.47 billion, a P/E ratio of -15.77 and a beta of 0.99. Revolution Medicines has a 1 year low of $29.17 and a 1 year high of $124.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly 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 firm posted ($1.12) EPS. Equities analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the completion of the sale, the chief financial officer directly owned 108,065 shares of the company’s stock, valued at approximately $10,590,370. This trade represents a 8.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark A. Goldsmith sold 30,000 shares of Revolution Medicines stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $101.22, for a total transaction of $3,036,600.00. Following the sale, the insider directly owned 289,569 shares in the company, valued at $29,310,174.18. This trade represents a 9.39% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 149,592 shares of company stock valued at $15,010,732. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Indiana Trust & Investment Management Co purchased a new position in Revolution Medicines in the fourth quarter valued at about $32,000. Global Retirement Partners LLC increased its holdings in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the last quarter. Torren Management LLC acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $33,000. Arax Advisory Partners acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $38,000. Finally, GAMMA Investing LLC boosted its stake in shares of Revolution Medicines by 45.1% during the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during 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.