Revolution Medicines (NASDAQ:RVMD) Hits New 52-Week High – Should You Buy?

Revolution Medicines, Inc. (NASDAQ:RVMD)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $51.00 and last traded at $50.85, with a volume of 198889 shares traded. The stock had previously closed at $50.42.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RVMD shares. Wedbush reissued an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $61.00 target price on shares of Revolution Medicines in a research report on Thursday, October 24th. Oppenheimer increased their price target on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday. Guggenheim raised their price target on shares of Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday. Finally, HC Wainwright reissued a “buy” rating and issued a $56.00 target price on shares of Revolution Medicines in a research report on Monday, August 12th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and a consensus price target of $56.75.

Revolution Medicines Stock Performance

The company has a 50 day moving average price of $45.80 and a 200-day moving average price of $42.26.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.81 million. The company’s quarterly revenue was down 73.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.92) EPS. As a group, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.35 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In other news, COO Margaret A. Horn sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $50.34, for a total value of $2,517,000.00. Following the completion of the transaction, the chief operating officer now owns 132,320 shares in the company, valued at $6,660,988.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Margaret A. Horn sold 50,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $50.34, for a total value of $2,517,000.00. Following the sale, the chief operating officer now directly owns 132,320 shares of the company’s stock, valued at $6,660,988.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.30, for a total value of $503,000.00. Following the completion of the sale, the chief financial officer now directly owns 98,932 shares in the company, valued at $4,976,279.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,866 shares of company stock valued at $6,355,624. 8.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after buying an additional 222 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after buying an additional 320 shares during the period. Amalgamated Bank raised its stake in shares of Revolution Medicines by 7.4% during the second quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock valued at $205,000 after acquiring an additional 365 shares in the last quarter. Headlands Technologies LLC raised its position in Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock valued at $49,000 after purchasing an additional 885 shares in the last quarter. Finally, Clear Harbor Asset Management LLC lifted its stake in Revolution Medicines by 10.2% in the second quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock worth $436,000 after acquiring an additional 1,036 shares during the period. 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.