Revolution Medicines (NASDAQ:RVMD) Rating Increased to Hold at Sanford C. Bernstein

Revolution Medicines (NASDAQ:RVMD) was upgraded by research analysts at Sanford C. Bernstein to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on RVMD. Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Jefferies Financial Group started coverage on Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating for the company. HC Wainwright reissued a “buy” rating on shares of Revolution Medicines in a report on Wednesday, April 22nd. Guggenheim boosted their target price on Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Revolution Medicines currently has a consensus rating of “Buy” and an average price target of $111.35.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $151.56 on Thursday. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines has a twelve month low of $34.00 and a twelve month high of $156.25. The stock has a 50 day moving average of $123.75 and a two-hundred day moving average of $101.21. The stock has a market cap of $32.22 billion, a P/E ratio of -21.44 and a beta of 1.41.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the firm posted ($1.13) earnings per share. On average, research analysts forecast that Revolution Medicines will post -7.75 earnings per share for the current year.

Insider Activity

In related news, insider Lin Wei sold 2,073 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $206,222.04. Following the transaction, the insider owned 101,366 shares of the company’s stock, valued at $10,083,889.68. This represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen Michael Kelsey sold 4,302 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $427,962.96. Following the transaction, the insider directly owned 295,398 shares in the company, valued at $29,386,193.04. This represents a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 184,592 shares of company stock valued at $24,499,532 over the last three months. 8.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RVMD. Indiana Trust & Investment Management Co acquired a new position in Revolution Medicines during the fourth quarter worth $32,000. Global Retirement Partners LLC grew its holdings 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 acquiring an additional 361 shares during the period. Torren Management LLC acquired a new position in Revolution Medicines during the fourth quarter worth $33,000. Arax Advisory Partners acquired a new position in Revolution Medicines during the fourth quarter worth $38,000. Finally, Darwin Wealth Management LLC acquired a new position in Revolution Medicines during the fourth quarter worth $40,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

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.