Revolution Medicines (NASDAQ:RVMD) Hits New 52-Week High – Here’s What Happened

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price reached a new 52-week high during trading 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.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RVMD shares. Wedbush lifted their price objective on Revolution Medicines from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. National Bankshares set a $80.00 price target on shares of Revolution Medicines in a report on Friday, October 17th. Royal Bank Of Canada began coverage on shares of Revolution Medicines in a research note on Monday, November 3rd. They set an “outperform” rating and a $77.00 price objective on the stock. Truist Financial initiated coverage on shares of Revolution Medicines in a research report on Friday, September 5th. They issued a “buy” rating and a $99.00 target price for the company. Finally, Wolfe Research began coverage on shares of Revolution Medicines in a research report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $78.50.

Revolution Medicines Stock Performance

The stock’s 50-day moving average price is $66.73 and its 200-day moving average price is $49.34. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $15.53 billion, a P/E ratio of -15.53 and a beta of 0.96.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new position in shares of Revolution Medicines in the third quarter valued at $110,000. Swiss Life Asset Management Ltd acquired a new position in shares of Revolution Medicines in the 3rd quarter worth $293,000. Danske Bank A S acquired a new stake in shares of Revolution Medicines during the third quarter worth $98,000. TCG Crossover Management LLC purchased a new stake in shares of Revolution Medicines during the third quarter valued at $20,383,000. Finally, Sender Co & Partners Inc. purchased a new stake in shares of Revolution Medicines during the third quarter valued at $403,000. 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.