Revolution Medicines (NASDAQ:RVMD) Reaches New 1-Year High at $37.62

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $37.62 and last traded at $37.54, with a volume of 694033 shares. The stock had previously closed at $36.50.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wedbush increased their price objective on Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Oppenheimer increased their price target on Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday. Bank of America upgraded Revolution Medicines from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $31.00 to $34.00 in a research report on Friday, January 5th. Needham & Company LLC reissued a “buy” rating and set a $46.00 target price (up previously from $36.00) on shares of Revolution Medicines in a research report on Monday, April 8th. Finally, UBS Group began coverage on shares of Revolution Medicines in a research report on Wednesday, December 20th. They issued a “buy” rating and a $40.00 price target on the stock. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $41.20.

Revolution Medicines Trading Down 3.6 %

The firm’s 50-day moving average price is $31.13 and its 200 day moving average price is $27.32.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The business had revenue of $0.74 million for the quarter, compared to analyst estimates of $1.20 million. During the same period last year, the firm earned ($0.63) EPS. The company’s revenue for the quarter was down 95.2% on a year-over-year basis. Research analysts expect that Revolution Medicines, Inc. will post -3.17 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, General Counsel Jeff Cislini sold 1,252 shares of Revolution Medicines stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $39,538.16. Following the completion of the transaction, the general counsel now directly owns 55,874 shares in the company, valued at $1,764,500.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Revolution Medicines news, Director Sushil Patel sold 2,155 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $37.00, for a total value of $79,735.00. Following the sale, the director now directly owns 15,700 shares in the company, valued at approximately $580,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jeff Cislini sold 1,252 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the transaction, the general counsel now directly owns 55,874 shares of the company’s stock, valued at $1,764,500.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,205 shares of company stock valued at $671,249. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. MetLife Investment Management LLC grew its position in Revolution Medicines by 58.5% during the first quarter. MetLife Investment Management LLC now owns 34,256 shares of the company’s stock worth $874,000 after buying an additional 12,643 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Revolution Medicines by 165.5% during the first quarter. Dimensional Fund Advisors LP now owns 478,776 shares of the company’s stock worth $12,214,000 after purchasing an additional 298,436 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Revolution Medicines by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 444,212 shares of the company’s stock worth $11,332,000 after purchasing an additional 13,134 shares during the last quarter. Northern Trust Corp raised its stake in Revolution Medicines by 12.3% in the first quarter. Northern Trust Corp now owns 629,849 shares of the company’s stock valued at $16,067,000 after purchasing an additional 68,794 shares in the last quarter. Finally, State Street Corp lifted its position in Revolution Medicines by 3.2% during the first quarter. State Street Corp now owns 2,843,477 shares of the company’s stock valued at $72,537,000 after purchasing an additional 88,844 shares during the last quarter. Institutional investors 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.