Revolution Medicines (NASDAQ:RVMD) Now Covered by Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a research note published on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $63.00 target price on the stock.

Several other equities research analysts have also issued reports on RVMD. Wedbush raised their price objective on Revolution Medicines from $42.00 to $46.00 and gave the company an outperform rating in a research note on Thursday, May 9th. Raymond James raised shares of Revolution Medicines from an outperform rating to a strong-buy rating and increased their target price for the company from $36.00 to $48.00 in a research note on Wednesday, April 10th. HC Wainwright restated a buy rating and issued a $44.00 target price on shares of Revolution Medicines in a report on Monday, May 13th. Oppenheimer upped their price target on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an outperform rating in a report on Friday, April 12th. Finally, Piper Sandler assumed coverage on shares of Revolution Medicines in a research note on Monday, March 11th. They issued an overweight rating and a $43.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of Buy and a consensus target price of $45.00.

Revolution Medicines Trading Up 2.1 %

NASDAQ RVMD opened at $43.35 on Monday. Revolution Medicines has a 12 month low of $15.44 and a 12 month high of $44.80. The stock has a market cap of $7.15 billion, a PE ratio of -11.56 and a beta of 1.44. The stock’s 50 day moving average is $38.91 and its 200 day moving average is $33.73.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. Revolution Medicines’s revenue was down 100.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.72) earnings per share. On average, analysts forecast that Revolution Medicines will post -3.12 EPS for the current fiscal year.

Insider Activity

In other Revolution Medicines news, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $44.00, for a total value of $94,820.00. Following the completion of the sale, the director now directly owns 19,948 shares in the company, valued at approximately $877,712. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Jeff Cislini sold 2,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total transaction of $76,940.00. Following the transaction, the general counsel now directly owns 49,487 shares of the company’s stock, valued at $1,903,764.89. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sushil Patel sold 2,155 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $44.00, for a total transaction of $94,820.00. Following the completion of the transaction, the director now directly owns 19,948 shares of the company’s stock, valued at approximately $877,712. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,754 shares of company stock valued at $677,811. Corporate insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RVMD. Wellington Management Group LLP lifted its stake in shares of Revolution Medicines by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock worth $292,646,000 after purchasing an additional 282,786 shares during the last quarter. Bellevue Group AG raised its holdings in Revolution Medicines by 7.8% in the fourth quarter. Bellevue Group AG now owns 5,091,000 shares of the company’s stock worth $146,010,000 after purchasing an additional 369,500 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Revolution Medicines by 3.2% during the third quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock valued at $266,935,000 after buying an additional 303,088 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $2,644,000. Finally, Mass General Brigham Inc purchased a new position in shares of Revolution Medicines in the 1st quarter worth approximately $10,900,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

About Revolution Medicines

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.