Revolution Medicines (NASDAQ:RVMD) Sets New 12-Month High – Time to Buy?

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price reached a new 52-week high on Monday . The company traded as high as $166.65 and last traded at $165.6250, with a volume of 995531 shares trading hands. The stock had previously closed at $162.99.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RVMD shares. Royal Bank Of Canada lifted their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. HC Wainwright increased their price target on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Oppenheimer raised their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Evercore restated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Finally, Guggenheim upped their price objective on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and a consensus price target of $123.72.

Revolution Medicines Trading Up 0.2%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a market capitalization of $36.10 billion, a P/E ratio of -23.81 and a beta of 1.40. The stock has a 50-day moving average price of $149.89 and a two-hundred day moving average price of $114.89.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the company posted ($1.13) earnings per share. On average, research analysts forecast that Revolution Medicines, Inc. will post -7.94 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 60,400 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $160.17, for a total value of $9,674,268.00. Following the completion of the transaction, the chief operating officer directly owned 158,222 shares in the company, valued at approximately $25,342,417.74. This represents a 27.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 2,722 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $424,958.64. Following the completion of the sale, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at approximately $19,244,756.28. This represents a 2.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 226,917 shares of company stock valued at $35,065,702 in the last 90 days. 7.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Revolution Medicines

Institutional investors have recently bought and sold shares of the stock. Nextech Invest Ltd. boosted its position in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after acquiring an additional 1,304,347 shares in the last quarter. Millennium Management LLC raised its position in shares of Revolution Medicines by 681.8% in the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after acquiring an additional 136,353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Revolution Medicines by 14.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after purchasing an additional 37,345 shares during the period. Invesco Ltd. lifted its stake in shares of Revolution Medicines by 19.3% in the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after purchasing an additional 36,760 shares during the period. Finally, Jump Financial LLC boosted its position in shares of Revolution Medicines by 87.9% during the second quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after purchasing an additional 7,137 shares in the last quarter. 94.34% of the stock is 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.