Revolution Medicines (NASDAQ:RVMD) Hits New 12-Month High – What’s Next?

Revolution Medicines, Inc. (NASDAQ:RVMD)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $62.50 and last traded at $62.50, with a volume of 621 shares. The stock had previously closed at $60.44.

Analyst Ratings Changes

A number of equities analysts have commented on RVMD shares. Piper Sandler boosted their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Barclays raised their price objective on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Wedbush reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. Oppenheimer lifted their price target on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Guggenheim increased their price objective on shares of Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Revolution Medicines currently has an average rating of “Buy” and a consensus price target of $61.00.

Revolution Medicines Stock Down 2.1 %

The company has a 50-day simple moving average of $47.92 and a two-hundred day simple moving average of $43.45.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period last year, the company posted ($0.99) EPS. Equities analysts anticipate that Revolution Medicines, Inc. will post -3.51 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In related news, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.30, for a total value of $503,000.00. Following the completion of the sale, the chief financial officer now owns 98,932 shares of the company’s stock, valued at $4,976,279.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Barbara Weber sold 5,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the transaction, the director now owns 13,065 shares in the company, valued at $627,381.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.30, for a total value of $503,000.00. Following the sale, the chief financial officer now directly owns 98,932 shares in the company, valued at approximately $4,976,279.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,866 shares of company stock worth $6,355,624. Company insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds have recently modified their holdings of RVMD. Vanguard Group Inc. boosted its stake in Revolution Medicines by 0.8% during the first quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock valued at $475,622,000 after buying an additional 122,721 shares in the last quarter. Farallon Capital Management LLC grew its stake in shares of Revolution Medicines by 30.0% in the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock worth $378,696,000 after purchasing an additional 2,249,820 shares during the last quarter. Baker BROS. Advisors LP raised its holdings in shares of Revolution Medicines by 46.6% in the 1st quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company’s stock worth $243,312,000 after purchasing an additional 2,400,592 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Revolution Medicines by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,814,310 shares of the company’s stock valued at $155,166,000 after purchasing an additional 177,957 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Revolution Medicines by 77.9% in the first quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock worth $126,067,000 after buying an additional 1,712,639 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.