Revolution Medicines (NASDAQ:RVMD) Sets New 1-Year High – Time to Buy?

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) hit a new 52-week high on Monday . The stock traded as high as $81.62 and last traded at $81.04, with a volume of 738547 shares traded. The stock had previously closed at $78.78.

Analyst Ratings Changes

A number of research firms recently issued reports on RVMD. Raymond James Financial lifted their price target on shares of Revolution Medicines from $72.00 to $76.00 and gave the company a “strong-buy” rating in a research note on Friday, October 17th. The Goldman Sachs Group lifted their target price on shares of Revolution Medicines from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Wedbush boosted their target price on shares of Revolution Medicines from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company raised their price target on shares of Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $78.50.

Revolution Medicines Trading Up 2.5%

The stock has a market capitalization of $15.91 billion, a PE ratio of -15.92 and a beta of 0.96. The company’s 50 day moving average price is $68.02 and its two-hundred day moving average price is $49.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter in the prior year, the firm earned ($0.94) EPS. As a group, analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 5,447 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total value of $418,438.54. Following the completion of the sale, the insider directly owned 278,600 shares in the company, valued at $21,402,052. This represents a 1.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Margaret A. Horn sold 4,847 shares of Revolution Medicines stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total value of $372,346.54. Following the transaction, the chief operating officer owned 141,053 shares in the company, valued at approximately $10,835,691.46. This represents a 3.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 183,792 shares of company stock valued at $12,449,240 over the last ninety days. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farallon Capital Management LLC raised its stake in Revolution Medicines by 2.1% during the third quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock worth $683,020,000 after purchasing an additional 300,000 shares during the period. Baker BROS. Advisors LP grew its stake in shares of Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after buying an additional 90,385 shares during the period. Nextech Invest Ltd. increased its holdings in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after buying an additional 1,304,347 shares during the last quarter. Paradigm Biocapital Advisors LP raised its position in shares of Revolution Medicines by 2.1% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock valued at $290,628,000 after buying an additional 130,000 shares during the period. Finally, Bellevue Group AG raised its position in shares of Revolution Medicines by 21.7% during the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after buying an additional 994,538 shares during the period. 94.34% of the stock is currently owned by institutional investors and hedge funds.

About Revolution Medicines

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.