Revolution Medicines (NASDAQ:RVMD) Hits New 1-Year High – Should You Buy?

Revolution Medicines, Inc. (NASDAQ:RVMD) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $209.98 and last traded at $210.4590, with a volume of 222167 shares. The stock had previously closed at $203.71.

Wall Street Analyst Weigh In

RVMD has been the topic of a number of recent research reports. Mizuho lifted their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Evercore reissued an “outperform” rating and issued a $230.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 6th. Wedbush raised their target price on shares of Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Piper Sandler lifted their target price on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, HC Wainwright restated a “buy” rating and set a $195.00 target price on shares of Revolution Medicines in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $166.33.

Revolution Medicines Stock Up 1.9%

The firm has a 50 day moving average price of $184.22 and a two-hundred day moving average price of $142.42. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $46.30 billion, a price-to-earnings ratio of -24.49 and a beta of 1.39.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period last year, the firm earned ($1.31) earnings per share. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -8.82 earnings per share for the current year.

Insider Activity at Revolution Medicines

In related news, Director Sushil Patel sold 5,580 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the sale, the director directly owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This represents a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the transaction, the insider owned 291,876 shares in the company, valued at $45,567,681.12. This trade represents a 1.41% 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. In the last 90 days, insiders sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new position in Revolution Medicines in the second quarter worth about $32,000. Global Retirement Partners LLC raised 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 valued at $32,000 after buying an additional 361 shares in the last quarter. Torren Management LLC acquired a new stake in Revolution Medicines during the fourth quarter valued at approximately $33,000. Johnson Financial Group Inc. bought a new position in Revolution Medicines during the 2nd quarter worth approximately $37,000. Finally, Arax Advisory Partners bought a new position in Revolution Medicines during the 4th quarter worth approximately $38,000. Institutional investors 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.