Revolution Medicines (NASDAQ:RVMD) Sets New 12-Month High – Should You Buy?

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $166.65 and last traded at $165.6250, with a volume of 995531 shares traded. The stock had previously closed at $162.99.

Analysts Set New Price Targets

Several research firms have recently weighed in on RVMD. HC Wainwright boosted their target price on Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a report on Monday, June 1st. Truist Financial started coverage on Revolution Medicines in a research note on Monday, May 18th. They issued a “buy” rating and a $179.00 price objective for the company. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of Revolution Medicines in a report on Monday, March 16th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $123.72.

Revolution Medicines Trading Up 1.2%

The firm has a market capitalization of $35.05 billion, a price-to-earnings ratio of -23.34 and a beta of 1.40. The business’s 50 day moving average price is $147.04 and its 200-day moving average price is $113.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the firm earned ($1.13) earnings per share. Equities analysts forecast that Revolution Medicines, Inc. will post -7.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Revolution Medicines news, COO Margaret A. Horn sold 29,600 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the sale, the chief operating officer directly owned 154,647 shares in the company, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the transaction, the insider owned 291,876 shares of the company’s stock, valued at $45,567,681.12. This represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 226,917 shares of company stock worth $35,065,702 in the last ninety days. 7.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

Institutional investors have recently modified their holdings of the company. Seven Fleet Capital Management LP grew its holdings in shares of Revolution Medicines by 22.8% in the 1st quarter. Seven Fleet Capital Management LP now owns 80,792 shares of the company’s stock worth $7,857,000 after acquiring an additional 14,992 shares during the period. Parallel Advisors LLC raised its holdings in Revolution Medicines by 181.0% during the first quarter. Parallel Advisors LLC now owns 562 shares of the company’s stock worth $55,000 after purchasing an additional 362 shares during the last quarter. Perceptive Advisors LLC purchased a new stake in Revolution Medicines during the first quarter worth $25,149,000. Avidity Partners Management LP acquired a new stake in Revolution Medicines in the first quarter valued at $1,459,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Revolution Medicines in the first quarter valued at $6,736,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

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.