Revolution Medicines (NASDAQ:RVMD) Upgraded at BidaskClub
A number of other equities research analysts also recently commented on RVMD. SVB Leerink dropped their price objective on shares of Revolution Medicines from $40.00 to $39.00 and set an outperform rating on the stock in a research report on Monday, August 10th. HC Wainwright dropped their price objective on shares of Revolution Medicines from $55.00 to $52.00 and set a buy rating on the stock in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $42.20.
NASDAQ:RVMD opened at $27.71 on Friday. The company’s 50-day moving average is $26.55 and its two-hundred day moving average is $28.93. Revolution Medicines has a 1-year low of $17.34 and a 1-year high of $47.14.
In related news, insider Mark A. Goldsmith sold 900 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $29.05, for a total value of $26,145.00. Following the transaction, the insider now directly owns 900 shares of the company’s stock, valued at approximately $26,145. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Michael Kelsey sold 2,542 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $29.06, for a total transaction of $73,870.52. Following the completion of the transaction, the insider now directly owns 266,369 shares in the company, valued at $7,740,683.14. The disclosure for this sale can be found here. Insiders sold a total of 23,006 shares of company stock worth $614,811 over the last ninety days.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. grew its position in shares of Revolution Medicines by 7.2% in the 2nd quarter. American International Group Inc. now owns 8,963 shares of the company’s stock valued at $283,000 after buying an additional 602 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Revolution Medicines during the 2nd quarter worth $34,000. Bank of Montreal Can purchased a new position in Revolution Medicines during the 2nd quarter worth $33,000. Ameritas Investment Partners Inc. purchased a new position in Revolution Medicines during the 1st quarter worth $27,000. Finally, State of Wisconsin Investment Board grew its position in Revolution Medicines by 7.3% during the 2nd quarter. State of Wisconsin Investment Board now owns 23,400 shares of the company’s stock worth $739,000 after purchasing an additional 1,600 shares during the last quarter. 71.58% of the stock is currently owned by hedge funds and other institutional investors.
Revolution Medicines Company Profile
Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit targets primarily within the RAS and mTOR signaling pathways. The company's principal product candidate is RMC-4630, an inhibitor of SHP2, which is in Phase 1b/2 study for the treatment of RAS-dependent tumors.
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