Revolution Medicines (NASDAQ:RVMD) Upgraded by Sanford C. Bernstein to “Hold” Rating

Sanford C. Bernstein upgraded shares of Revolution Medicines (NASDAQ:RVMD) to a hold rating in a research report report published on Thursday,Zacks.com reports.

Several other research firms also recently issued reports on RVMD. Truist Financial began coverage on shares of Revolution Medicines in a research note on Monday. They issued a “buy” rating and a $179.00 price objective for the company. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. UBS Group started coverage on Revolution Medicines in a research note on Friday, February 27th. They set a “buy” rating on the stock. Piper Sandler boosted their price objective on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $111.35.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $151.56 on Thursday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines has a 52 week low of $34.00 and a 52 week high of $156.25. The firm’s 50 day moving average is $123.75 and its two-hundred day moving average is $101.21. The firm has a market capitalization of $32.22 billion, a P/E ratio of -21.44 and a beta of 1.41.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period last year, the firm posted ($1.13) EPS. Research analysts forecast that Revolution Medicines will post -7.75 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 4,302 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the transaction, the insider directly owned 295,398 shares of the company’s stock, valued at approximately $29,386,193.04. The trade was a 1.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 120,000 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the transaction, the insider owned 276,698 shares of the company’s stock, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 184,592 shares of company stock valued at $24,499,532. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Indiana Trust & Investment Management Co acquired a new stake in Revolution Medicines in the fourth quarter valued at about $32,000. Global Retirement Partners LLC raised its stake in shares of Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after buying an additional 361 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Revolution Medicines in the 4th quarter valued at approximately $33,000. Arax Advisory Partners purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $38,000. Finally, Darwin Wealth Management LLC acquired a new position in Revolution Medicines during the fourth quarter worth $40,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

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.