Revolution Medicines (NASDAQ:RVMD) Sets New 12-Month High at $27.65

Revolution Medicines, Inc. (NASDAQ:RVMDGet Rating) reached a new 52-week high during trading on Thursday . The stock traded as high as $27.65 and last traded at $26.96, with a volume of 604 shares. The stock had previously closed at $26.90.

Analysts Set New Price Targets

A number of research analysts have commented on the company. HC Wainwright upped their price target on Revolution Medicines from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, December 8th. Needham & Company LLC began coverage on Revolution Medicines in a research note on Wednesday, December 14th. They issued a “buy” rating and a $31.00 price target on the stock. Finally, Oppenheimer began coverage on Revolution Medicines in a research note on Thursday, October 20th. They set an “outperform” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.83.

Revolution Medicines Stock Up 0.7 %

The stock has a fifty day simple moving average of $22.93 and a 200 day simple moving average of $21.75. The firm has a market capitalization of $2.67 billion, a P/E ratio of -9.46 and a beta of 1.49.

Revolution Medicines (NASDAQ:RVMDGet Rating) last posted its quarterly earnings results on Monday, November 7th. The company reported ($0.87) EPS for the quarter, meeting analysts’ consensus estimates of ($0.87). The business had revenue of $3.36 million for the quarter, compared to analysts’ expectations of $8.57 million. Revolution Medicines had a negative return on equity of 41.97% and a negative net margin of 829.80%. Research analysts anticipate that Revolution Medicines, Inc. will post -3.31 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Margaret A. Horn sold 17,767 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $20.41, for a total transaction of $362,624.47. Following the completion of the transaction, the chief operating officer now owns 17,767 shares in the company, valued at $362,624.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Margaret A. Horn sold 17,767 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $20.41, for a total transaction of $362,624.47. Following the completion of the transaction, the chief operating officer now owns 17,767 shares in the company, valued at $362,624.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Margaret A. Horn sold 17,768 shares of Revolution Medicines stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $20.15, for a total value of $358,025.20. Following the completion of the transaction, the insider now owns 35,534 shares of the company’s stock, valued at approximately $716,010.10. The disclosure for this sale can be found here. Insiders sold a total of 36,901 shares of company stock worth $751,986 over the last 90 days. Corporate insiders own 18.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RVMD. MetLife Investment Management LLC grew its position in Revolution Medicines by 58.5% in the first quarter. MetLife Investment Management LLC now owns 34,256 shares of the company’s stock worth $874,000 after acquiring an additional 12,643 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Revolution Medicines by 165.5% in the first quarter. Dimensional Fund Advisors LP now owns 478,776 shares of the company’s stock worth $12,214,000 after acquiring an additional 298,436 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Revolution Medicines by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 444,212 shares of the company’s stock worth $11,332,000 after acquiring an additional 13,134 shares in the last quarter. Northern Trust Corp grew its position in Revolution Medicines by 12.3% in the first quarter. Northern Trust Corp now owns 629,849 shares of the company’s stock worth $16,067,000 after acquiring an additional 68,794 shares in the last quarter. Finally, State Street Corp grew its position in Revolution Medicines by 3.2% in the first quarter. State Street Corp now owns 2,843,477 shares of the company’s stock worth $72,537,000 after acquiring an additional 88,844 shares in the last quarter.

About Revolution Medicines

(Get Rating)

Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.

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