UBS Group Begins Coverage on Revolution Medicines (NASDAQ:RVMD)

UBS Group started coverage on shares of Revolution Medicines (NASDAQ:RVMD) in a note issued to investors on Friday. The firm set a “buy” rating on the stock.

Other equities analysts have also recently issued reports about the company. HC Wainwright increased their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Royal Bank Of Canada began coverage on shares of Revolution Medicines in a report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 target price on the stock. Wolfe Research began coverage on shares of Revolution Medicines in a report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price target for the company. Evercore raised shares of Revolution Medicines to a “strong-buy” rating in a research note on Wednesday. Finally, Needham & Company LLC lifted their target price on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Revolution Medicines has an average rating of “Buy” and a consensus price target of $78.94.

Revolution Medicines Trading Down 1.1%

Shares of Revolution Medicines stock opened at $102.15 on Friday. Revolution Medicines has a 1 year low of $29.17 and a 1 year high of $124.49. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16. The company has a market cap of $19.75 billion, a price-to-earnings ratio of -17.28 and a beta of 1.01. The company’s fifty day simple moving average is $98.72 and its 200-day simple moving average is $69.89.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period in the prior year, the business earned ($1.12) earnings per share. As a group, sell-side analysts expect that Revolution Medicines will post -3.49 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 15,394 shares of Revolution Medicines stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total transaction of $1,182,567.08. Following the completion of the sale, the insider owned 232,469 shares of the company’s stock, valued at approximately $17,858,268.58. The trade was a 6.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Michael Kelsey sold 5,447 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total transaction of $418,438.54. Following the sale, the insider owned 278,600 shares of the company’s stock, valued at $21,402,052. The trade was a 1.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,792 shares of company stock worth $10,734,640 over the last quarter. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its holdings in Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after buying an additional 125 shares during the last quarter. Deutsche Bank AG raised its position in shares of Revolution Medicines by 0.4% in the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after acquiring an additional 130 shares during the period. Signaturefd LLC boosted its stake in Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after acquiring an additional 163 shares during the last quarter. Allworth Financial LP grew its holdings in Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Revolution Medicines by 44.7% during the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock valued at $60,000 after purchasing an additional 232 shares during the period. Institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.