Revolution Medicines, Inc. (NASDAQ:RVMD) Given Consensus Rating of “Buy” by Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned a consensus rating of “Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $66.25.

A number of equities research analysts have issued reports on the company. Piper Sandler boosted their price target on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $68.00 target price on shares of Revolution Medicines in a report on Tuesday, December 3rd. Oppenheimer boosted their target price on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. HC Wainwright boosted their price objective on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Guggenheim boosted their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, Director Thilo Schroeder purchased 1,304,347 shares of Revolution Medicines stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average price of $46.00 per share, with a total value of $59,999,962.00. Following the completion of the acquisition, the director now owns 2,096,612 shares of the company’s stock, valued at approximately $96,444,152. This trade represents a 164.64 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark A. Goldsmith sold 11,714 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $531,815.60. Following the transaction, the insider now owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,678 shares of company stock valued at $847,981 in the last ninety days. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RVMD. Creative Planning boosted its stake in Revolution Medicines by 40.1% during the 3rd quarter. Creative Planning now owns 37,868 shares of the company’s stock valued at $1,717,000 after acquiring an additional 10,839 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Revolution Medicines during the third quarter worth about $246,000. Raymond James & Associates lifted its position in shares of Revolution Medicines by 156.2% during the third quarter. Raymond James & Associates now owns 190,505 shares of the company’s stock worth $8,639,000 after purchasing an additional 116,135 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Revolution Medicines by 1,109.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 38,589 shares of the company’s stock worth $1,750,000 after purchasing an additional 35,399 shares during the last quarter. Finally, Values First Advisors Inc. bought a new position in Revolution Medicines during the 3rd quarter worth approximately $93,000. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Stock Down 0.2 %

RVMD stock opened at $42.26 on Friday. The company has a market cap of $7.11 billion, a price-to-earnings ratio of -11.77 and a beta of 1.45. The business has a fifty day simple moving average of $42.57 and a 200-day simple moving average of $46.25. Revolution Medicines has a 52 week low of $28.43 and a 52 week high of $62.40.

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.