Revolution Medicines (NASDAQ:RVMD) Sets New 52-Week High – Time to Buy?

Revolution Medicines, Inc. (NASDAQ:RVMD) reached a new 52-week high during trading on Monday . The company traded as high as $62.50 and last traded at $62.50, with a volume of 621 shares. The stock had previously closed at $60.44.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $59.00 price target on shares of Revolution Medicines in a research report on Thursday, August 8th. Bank of America increased their target price on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Guggenheim lifted their price target on shares of Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Piper Sandler increased their price objective on Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and a consensus price target of $61.00.

Revolution Medicines Stock Up 3.4 %

The business’s 50-day moving average price is $47.56 and its 200 day moving average price is $43.27. The company has a market capitalization of $10.51 billion, a P/E ratio of -16.84 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter in the previous year, the company earned ($0.99) EPS. Analysts anticipate that Revolution Medicines, Inc. will post -3.42 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 16,666 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $49.49, for a total value of $824,800.34. Following the transaction, the insider now directly owns 264,408 shares in the company, valued at approximately $13,085,551.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Stephen Michael Kelsey sold 16,666 shares of Revolution Medicines stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the sale, the insider now directly owns 264,408 shares of the company’s stock, valued at approximately $13,085,551.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Barbara Weber sold 5,200 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the completion of the transaction, the director now directly owns 13,065 shares in the company, valued at approximately $627,381.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,866 shares of company stock valued at $6,355,624 in the last 90 days. Corporate insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Revolution Medicines by 0.8% during the first quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock worth $475,622,000 after acquiring an additional 122,721 shares in the last quarter. Farallon Capital Management LLC raised its position in Revolution Medicines by 30.0% in the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock worth $378,696,000 after purchasing an additional 2,249,820 shares during the period. Baker BROS. Advisors LP lifted its stake in Revolution Medicines by 46.6% in the first quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company’s stock worth $243,312,000 after purchasing an additional 2,400,592 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Revolution Medicines by 3.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,814,310 shares of the company’s stock valued at $155,166,000 after buying an additional 177,957 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Revolution Medicines by 77.9% during the first quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock valued at $126,067,000 after buying an additional 1,712,639 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.