Revolution Medicines, Inc. (NASDAQ:RVMD) Receives $66.25 Consensus Target Price from Brokerages

Revolution Medicines, Inc. (NASDAQ:RVMD) has been assigned an average rating of “Buy” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $66.25.

RVMD has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and set a $70.00 price target on shares of Revolution Medicines in a research report on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and set a $68.00 target price on shares of Revolution Medicines in a research report on Tuesday, December 3rd. Oppenheimer upped their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, October 28th. UBS Group lifted their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, HC Wainwright increased their price objective on shares of Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th.

Revolution Medicines Stock Down 2.2 %

Shares of NASDAQ RVMD opened at $41.34 on Friday. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -11.52 and a beta of 1.45. Revolution Medicines has a 52 week low of $28.65 and a 52 week high of $62.40. The firm has a 50-day moving average price of $42.49 and a 200 day moving average price of $46.29.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 11,714 shares of the firm’s 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 sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thilo Schroeder bought 1,304,347 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was bought 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 $96,444,152. This trade represents a 164.64 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 18,678 shares of company stock worth $847,981. 8.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc acquired a new position in Revolution Medicines in the fourth quarter valued at $34,000. Quarry LP acquired a new position in shares of Revolution Medicines in the 3rd quarter valued at about $82,000. Sterling Capital Management LLC grew its holdings in shares of Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after purchasing an additional 1,672 shares during the period. Farther Finance Advisors LLC increased its position in Revolution Medicines by 368.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in Revolution Medicines in the third quarter valued at approximately $93,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.