Revolution Medicines (NASDAQ:RVMD) Reaches New 12-Month High – What’s Next?

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price reached a new 52-week high on Friday . The company traded as high as $156.25 and last traded at $155.2210, with a volume of 848835 shares traded. The stock had previously closed at $153.73.

Analysts Set New Price Targets

RVMD has been the topic of a number of recent analyst reports. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Sanford C. Bernstein assumed coverage on shares of Revolution Medicines in a research note on Thursday. They set a “market perform” rating and a $151.00 price target on the stock. HC Wainwright reiterated a “buy” rating on shares of Revolution Medicines in a research report on Wednesday, April 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Revolution Medicines has an average rating of “Buy” and a consensus price target of $111.35.

Revolution Medicines Trading Up 0.4%

The stock has a market cap of $32.83 billion, a price-to-earnings ratio of -21.84 and a beta of 1.41. The business’s fifty day simple moving average is $122.71 and its 200 day simple moving average is $100.85. 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 posted its earnings results 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 in the previous year, the business posted ($1.13) earnings per share. On average, research analysts predict that Revolution Medicines, Inc. will post -7.75 EPS for the current year.

Insider Activity at Revolution Medicines

In related news, COO Margaret A. Horn sold 4,583 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $455,916.84. Following the sale, the chief operating officer owned 157,570 shares in the company, valued at $15,675,063.60. The trade was a 2.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 4,302 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was 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 in the company, valued at approximately $29,386,193.04. This trade represents a 1.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 184,592 shares of company stock valued at $24,499,532 over the last 90 days. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors have recently added to or reduced their stakes in RVMD. Global Retirement Partners LLC boosted its stake in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares during the period. Indiana Trust & Investment Management Co bought a new stake in Revolution Medicines during the fourth quarter valued at $32,000. Torren Management LLC bought a new stake in Revolution Medicines during the fourth quarter valued at $33,000. Arax Advisory Partners bought a new stake in Revolution Medicines during the fourth quarter valued at $38,000. Finally, Darwin Wealth Management LLC bought a new stake in Revolution Medicines during the fourth quarter valued at $40,000. 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.