Revolution Medicines (NASDAQ:RVMD) Given New $82.00 Price Target at JPMorgan Chase & Co.

Revolution Medicines (NASDAQ:RVMD) had its price target hoisted by JPMorgan Chase & Co. from $71.00 to $82.00 in a research report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. National Bankshares set a $80.00 price objective on Revolution Medicines in a report on Friday, October 17th. Royal Bank Of Canada assumed coverage on shares of Revolution Medicines in a report on Monday. They set an “outperform” rating and a $77.00 price objective for the company. Lifesci Capital started coverage on Revolution Medicines in a report on Monday, August 18th. They issued an “outperform” rating and a $80.00 target price on the stock. Truist Financial began coverage on Revolution Medicines in a report on Friday, September 5th. They set a “buy” rating and a $99.00 price target for the company. Finally, HC Wainwright boosted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $78.71.

Revolution Medicines Price Performance

NASDAQ RVMD traded down $0.37 on Thursday, reaching $61.01. The company’s stock had a trading volume of 2,723,583 shares, compared to its average volume of 1,952,730. Revolution Medicines has a 52 week low of $29.17 and a 52 week high of $63.15. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The firm has a market cap of $11.40 billion, a PE ratio of -11.80 and a beta of 1.25. The business has a 50-day moving average price of $48.17 and a 200 day moving average price of $41.81.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same quarter in the prior year, the business earned ($0.94) earnings per share. Sell-side analysts expect that Revolution Medicines will post -3.49 EPS for the current year.

Insider Transactions at Revolution Medicines

In other news, COO Margaret A. Horn sold 4,775 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $218,790.50. Following the completion of the sale, the chief operating officer owned 145,900 shares in the company, valued at $6,685,138. The trade was a 3.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lin Wei sold 2,160 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $98,971.20. Following the sale, the insider directly owned 88,339 shares of the company’s stock, valued at approximately $4,047,692.98. This trade represents a 2.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 188,033 shares of company stock valued at $8,456,208. 8.20% of the stock is currently owned by insiders.

Institutional Trading of Revolution Medicines

A number of institutional investors have recently bought and sold shares of the business. NEOS Investment Management LLC boosted its position in shares of Revolution Medicines by 34.7% in the 3rd quarter. NEOS Investment Management LLC now owns 126,921 shares of the company’s stock worth $5,927,000 after purchasing an additional 32,694 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Revolution Medicines by 18.8% in the third quarter. GSA Capital Partners LLP now owns 10,080 shares of the company’s stock valued at $471,000 after purchasing an additional 1,594 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Revolution Medicines by 10.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 58,308 shares of the company’s stock valued at $2,723,000 after buying an additional 5,478 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Revolution Medicines by 29.2% during the third quarter. PNC Financial Services Group Inc. now owns 9,941 shares of the company’s stock worth $464,000 after buying an additional 2,246 shares during the last quarter. Finally, S&CO Inc. grew its position in shares of Revolution Medicines by 56.5% during the 3rd quarter. S&CO Inc. now owns 22,171 shares of the company’s stock worth $1,035,000 after buying an additional 8,000 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.