Revolution Medicines (NASDAQ:RVMD) Given New $182.00 Price Target at Royal Bank Of Canada

Revolution Medicines (NASDAQ:RVMD) had its price objective upped by Royal Bank Of Canada from $165.00 to $182.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 16.26% from the stock’s previous close.

Several other research firms have also commented on RVMD. Guggenheim upped their price objective on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a report on Monday. Sanford C. Bernstein assumed coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target for the company. Finally, Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $123.72.

Revolution Medicines Stock Performance

Shares of RVMD stock traded down $0.94 on Tuesday, reaching $156.54. The stock had a trading volume of 6,685,692 shares, compared to its average volume of 2,436,484. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines has a 1 year low of $34.00 and a 1 year high of $166.50. The stock has a market cap of $33.28 billion, a P/E ratio of -22.57 and a beta of 1.41. The company has a 50 day simple moving average of $130.74 and a 200 day simple moving average of $105.50.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results 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 company earned ($1.13) earnings per share. Equities research analysts expect that Revolution Medicines will post -7.75 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 4,302 shares of Revolution Medicines 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 completion of the transaction, the insider directly owned 295,398 shares of the company’s stock, valued at $29,386,193.04. This trade represents a 1.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jack Anders sold 2,753 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $273,868.44. Following the completion of the sale, the chief financial officer owned 125,512 shares in the company, valued at approximately $12,485,933.76. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 148,592 shares of company stock worth $20,855,132 over the last three months. 8.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently made changes to their positions in RVMD. Nextech Invest Ltd. boosted its stake in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the period. Millennium Management LLC lifted its position in shares of Revolution Medicines by 681.8% during the first quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after purchasing an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Revolution Medicines by 14.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after purchasing an additional 37,345 shares during the period. Invesco Ltd. boosted its stake in shares of Revolution Medicines by 19.3% during the second quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after purchasing an additional 36,760 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Revolution Medicines by 87.9% in the second quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock worth $561,000 after purchasing an additional 7,137 shares during the last quarter. Hedge funds and other 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.