Revolution Medicines (NASDAQ:RVMD) Upgraded by Truist Financial to Strong-Buy Rating

Revolution Medicines (NASDAQ:RVMD) was upgraded by research analysts at Truist Financial to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They set a “buy” rating on the stock. Evercore upgraded Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, February 25th. UBS Group started coverage on Revolution Medicines in a report on Friday, February 27th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Finally, Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a report on Friday, January 9th. Five equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $78.94.

Revolution Medicines Trading Down 1.3%

RVMD opened at $94.29 on Wednesday. Revolution Medicines has a twelve month low of $29.17 and a twelve month high of $124.49. The company has a 50-day simple moving average of $101.53 and a 200 day simple moving average of $78.24. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $18.69 billion, a price-to-earnings ratio of -15.95 and a beta of 0.99.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same quarter in the previous year, the company earned ($1.12) EPS. Analysts predict that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 12,871 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $1,280,407.08. Following the completion of the transaction, the insider directly owned 276,698 shares in the company, valued at $27,525,917.04. This represents a 4.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jack Anders sold 2,753 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the completion of the transaction, the chief financial officer directly owned 125,512 shares of the company’s stock, valued at approximately $12,485,933.76. The trade was a 2.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,592 shares of company stock worth $15,010,732 in the last ninety days. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. General Atlantic L.P. bought a new stake in Revolution Medicines during the 3rd quarter worth $115,556,000. Norges Bank bought a new position in Revolution Medicines in the fourth quarter valued at about $195,568,000. Avoro Capital Advisors LLC bought a new position in Revolution Medicines in the fourth quarter valued at about $172,840,000. UBS Group AG boosted its stake in shares of Revolution Medicines by 183.6% during the fourth quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock valued at $245,954,000 after purchasing an additional 1,998,972 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its stake in shares of Revolution Medicines by 321.2% during the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock valued at $160,398,000 after purchasing an additional 1,535,686 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

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.