Revolution Medicines (NASDAQ:RVMD) Sets New 12-Month High – Here’s Why

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $197.47 and last traded at $197.47, with a volume of 96802 shares changing hands. The stock had previously closed at $193.46.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RVMD shares. HC Wainwright reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Revolution Medicines in a research note on Monday, July 6th. Mizuho increased their price target on Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Guggenheim upped their target price on Revolution Medicines from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush lifted their target price on Revolution Medicines from $192.10 to $201.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Evercore restated an “outperform” rating and set a $230.00 price target on shares of Revolution Medicines in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Revolution Medicines has an average rating of “Moderate Buy” and an average target price of $153.05.

Revolution Medicines Trading Up 0.3%

The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The company has a market capitalization of $42.05 billion, a P/E ratio of -22.43 and a beta of 1.39. The firm has a fifty day moving average price of $175.71 and a 200-day moving average price of $136.99.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period last year, the firm earned ($1.31) earnings per share. On average, equities research analysts anticipate that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.

Insider Buying and Selling

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director owned 21,656 shares of the company’s stock, valued at $4,071,111.44. The trade was a 20.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Margaret A. Horn sold 29,600 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the transaction, the chief operating officer directly owned 154,647 shares of the company’s stock, valued at $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 132,497 shares of company stock valued at $21,470,486. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Revolution Medicines by 194.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after purchasing an additional 14,062 shares in the last quarter. Mass General Brigham Inc purchased a new stake in shares of Revolution Medicines in the 4th quarter valued at $27,407,000. Eagle Health Investments LP purchased a new stake in shares of Revolution Medicines in the 4th quarter valued at $9,231,000. Finally, M&T Bank Corp bought a new position in shares of Revolution Medicines during the 4th quarter valued at $52,723,000. 94.34% of the stock is currently owned by institutional investors.

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.