Key Points
- Director Lorence Kim sold 17,090 Revolution Medicines shares at an average price of $209.82, generating approximately $3.59 million in proceeds.
- Revolution Medicines reported a quarterly loss of $3.06 per share, missing analysts’ $2.04 loss estimate. The stock opened at $203.35, with a market capitalization of about $43.59 billion.
- Analysts remain broadly optimistic, with 20 of 22 ratings at Buy or Strong Buy and an average price target of $218.11; several firms recently raised their targets as high as $275.
Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) Director Lorence Kim sold 17,090 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $209.82, for a total transaction of $3,585,823.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Revolution Medicines Trading Down 2.1%
Shares of RVMD stock opened at $203.35 on Friday. Revolution Medicines, Inc. has a 12-month low of $42.18 and a 12-month high of $224.31. The company has a market capitalization of $43.59 billion, a PE ratio of -23.06 and a beta of 1.40. The firm has a 50 day moving average price of $198.37 and a two-hundred day moving average price of $155.89. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the business earned ($1.31) earnings per share. As a group, analysts predict that Revolution Medicines, Inc. will post -8.83 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Guggenheim upped their price objective on Revolution Medicines from $240.00 to $275.00 and gave the company a "buy" rating in a report on Friday, August 28th. Mizuho lifted their target price on Revolution Medicines from $185.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, July 6th. Sanford C. Bernstein lifted their target price on Revolution Medicines from $151.00 to $179.00 and gave the stock a "market perform" rating in a report on Friday, August 21st. UBS Group boosted their target price on shares of Revolution Medicines from $220.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Finally, Truist Financial upped their price target on shares of Revolution Medicines from $231.00 to $239.00 and gave the company a "buy" rating in a research note on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $218.11.
View Our Latest Analysis on Revolution Medicines
Hedge Funds Weigh In On Revolution Medicines
A number of hedge funds have recently added to or reduced their stakes in RVMD. Meeder Advisory Services Inc. raised its stake in Revolution Medicines by 3.0% during the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company's stock worth $401,000 after buying an additional 120 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock valued at $802,000 after acquiring an additional 125 shares during the last quarter. Deutsche Bank AG boosted its position in Revolution Medicines by 0.4% during the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company's stock valued at $2,566,000 after acquiring an additional 130 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Revolution Medicines by 147.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company's stock worth $41,000 after acquiring an additional 130 shares during the period. Finally, Contravisory Investment Management Inc. bought a new position in shares of Revolution Medicines in the 2nd quarter worth about $32,000. Institutional investors own 94.34% of the company's stock.
About Revolution Medicines
(
Get Free Report)
Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.
Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.
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