Revolution Medicines (NASDAQ:RVMD) Receives Buy Rating from Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Revolution Medicines (NASDAQ:RVMD) in a report issued on Monday,Benzinga reports.

Several other equities research analysts have also issued reports on RVMD. UBS Group assumed coverage on shares of Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating for the company. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating for the company. Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. 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 given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $78.94.

Revolution Medicines Trading Down 1.6%

Revolution Medicines stock opened at $146.23 on Monday. The company’s fifty day simple moving average is $104.11 and its 200-day simple moving average is $87.18. 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 12 month low of $34.00 and a 12 month high of $155.70. The stock has a market cap of $28.98 billion, a P/E ratio of -24.74 and a beta of 1.01.

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 last year, the firm posted ($1.12) EPS. As a group, sell-side analysts forecast that Revolution Medicines will post -7.69 EPS for the current fiscal year.

Insider Activity

In other Revolution Medicines news, insider Lin Wei sold 2,073 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $206,222.04. Following the completion of the transaction, the insider owned 101,366 shares of the company’s stock, valued at $10,083,889.68. The trade was a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Margaret A. Horn sold 4,583 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $455,916.84. Following the transaction, the chief operating officer directly owned 157,570 shares of the company’s stock, valued at approximately $15,675,063.60. This represents a 2.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 184,592 shares of company stock worth $24,499,532. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund lifted its position in Revolution Medicines by 39.3% during the 3rd quarter. New York State Common Retirement Fund now owns 119,807 shares of the company’s stock worth $5,595,000 after acquiring an additional 33,821 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in Revolution Medicines during the 3rd quarter worth $921,000. NEOS Investment Management LLC lifted its position in Revolution Medicines by 34.7% during the 3rd quarter. NEOS Investment Management LLC now owns 126,921 shares of the company’s stock worth $5,927,000 after acquiring an additional 32,694 shares during the last quarter. HighVista Strategies LLC raised its position in shares of Revolution Medicines by 157.8% during the third quarter. HighVista Strategies LLC now owns 175,448 shares of the company’s stock valued at $8,193,000 after buying an additional 107,400 shares during the last quarter. Finally, Tema Etfs LLC raised its position in shares of Revolution Medicines by 34.7% during the third quarter. Tema Etfs LLC now owns 126,921 shares of the company’s stock valued at $5,927,000 after buying an additional 32,694 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.