HC Wainwright Issues Positive Forecast for Revolution Medicines (NASDAQ:RVMD) Stock Price

Revolution Medicines (NASDAQ:RVMD) had its target price hoisted by HC Wainwright from $72.00 to $73.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

RVMD has been the topic of several other research reports. Guggenheim raised their target price on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Wedbush restated an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. Needham & Company LLC dropped their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, UBS Group lifted their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $66.31.

Revolution Medicines Stock Down 5.9 %

NASDAQ:RVMD opened at $38.34 on Monday. The company’s 50 day moving average price is $42.04 and its 200-day moving average price is $46.18. Revolution Medicines has a 52 week low of $29.00 and a 52 week high of $62.40. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of -10.68 and a beta of 1.45.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, sell-side analysts anticipate that Revolution Medicines will post -3.49 earnings per share for the current year.

Insider Activity

In related news, Director Thilo Schroeder purchased 1,304,347 shares of Revolution Medicines stock in a transaction on Thursday, December 5th. The shares were bought at an average cost of $46.00 per share, for a total transaction of $59,999,962.00. Following the acquisition, the director now owns 2,096,612 shares in the company, valued at approximately $96,444,152. The trade was a 164.64 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack Anders sold 2,635 shares of Revolution Medicines stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the completion of the sale, the chief financial officer now owns 96,470 shares in the company, valued at approximately $4,379,738. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,678 shares of company stock worth $847,981 in the last three months. Company insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc increased its holdings in Revolution Medicines by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock valued at $220,000 after acquiring an additional 270 shares during the last quarter. Captrust Financial Advisors increased its holdings in Revolution Medicines by 4.1% in the 3rd quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after acquiring an additional 337 shares during the last quarter. KBC Group NV increased its holdings in Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Revolution Medicines by 11.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock valued at $186,000 after acquiring an additional 434 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Revolution Medicines by 8.3% in the 4th quarter. Amalgamated Bank now owns 5,707 shares of the company’s stock valued at $250,000 after acquiring an additional 435 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

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.