Revolution Medicines (NASDAQ:RVMD) Raised to Strong-Buy at Truist Financial

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

Other analysts also recently issued reports about the company. Evercore upgraded Revolution Medicines to a “strong-buy” rating in a report on Wednesday, February 25th. Jefferies Financial Group began coverage on Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating on the stock. UBS Group started coverage on Revolution Medicines in a research report on Friday, February 27th. They issued a “buy” rating on the stock. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Thursday, January 22nd. Five investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $78.94.

Revolution Medicines Trading Down 1.3%

RVMD opened at $94.29 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.14 and a quick ratio of 7.14. Revolution Medicines has a fifty-two week low of $29.17 and a fifty-two week high of $124.49. The company’s 50 day moving average price is $101.53 and its two-hundred day moving average price is $78.24. The firm 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 quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share (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. As a group, research analysts predict that Revolution Medicines will post -3.49 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 75,000 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total transaction of $7,542,000.00. Following the sale, the chief operating officer owned 141,053 shares of the company’s stock, valued at approximately $14,184,289.68. This represents a 34.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Lin Wei sold 2,073 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $206,222.04. Following the sale, the insider owned 101,366 shares of the company’s stock, valued at approximately $10,083,889.68. The trade was a 2.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 149,592 shares of company stock valued at $15,010,732 over the last three months. 8.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RVMD. Indiana Trust & Investment Management Co acquired a new position in shares of Revolution Medicines in the 4th quarter valued at about $32,000. Global Retirement Partners LLC grew 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 worth $32,000 after purchasing an additional 361 shares during the period. Torren Management LLC bought a new stake in Revolution Medicines in the fourth quarter worth approximately $33,000. Arax Advisory Partners bought a new stake in Revolution Medicines in the fourth quarter worth approximately $38,000. Finally, GAMMA Investing LLC lifted its stake in Revolution Medicines by 45.1% in the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after buying an additional 260 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

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.