Shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Get Rating) gapped up prior to trading on Monday . The stock had previously closed at $18.43, but opened at $18.83. Revolution Medicines shares last traded at $19.07, with a volume of 371 shares changing hands.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. HC Wainwright reduced their price objective on Revolution Medicines from $40.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, August 17th. SVB Leerink lowered their target price on Revolution Medicines from $31.00 to $30.00 and set an "outperform" rating for the company in a report on Wednesday, August 10th.
Get Revolution Medicines alerts:Revolution Medicines Stock Up 2.8 %
The business's 50 day moving average is $21.86 and its 200-day moving average is $20.89. The firm has a market capitalization of $1.65 billion, a P/E ratio of -6.22 and a beta of 1.68.
Revolution Medicines (NASDAQ:RVMD – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.82) EPS for the quarter, topping analysts' consensus estimates of ($0.87) by $0.05. The company had revenue of $9.12 million for the quarter, compared to analyst estimates of $8.75 million. Revolution Medicines had a negative net margin of 823.65% and a negative return on equity of 39.20%. Research analysts forecast that Revolution Medicines, Inc. will post -3.33 EPS for the current fiscal year.Insider Transactions at Revolution Medicines
In other news, Director Lorence H. Kim acquired 50,000 shares of Revolution Medicines stock in a transaction on Friday, July 22nd. The stock was acquired at an average cost of $20.00 per share, with a total value of $1,000,000.00. Following the transaction, the director now owns 60,500 shares of the company's stock, valued at approximately $1,210,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.80% of the stock is currently owned by insiders.
Institutional Trading of Revolution Medicines
A number of institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new position in shares of Revolution Medicines in the 2nd quarter worth $39,000. Nisa Investment Advisors LLC grew its holdings in Revolution Medicines by 53.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,150 shares of the company's stock worth $42,000 after acquiring an additional 750 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in Revolution Medicines in the 2nd quarter worth $54,000. Amundi purchased a new stake in shares of Revolution Medicines in the 2nd quarter worth about $131,000. Finally, Virtus ETF Advisers LLC lifted its position in shares of Revolution Medicines by 9.7% in the 4th quarter. Virtus ETF Advisers LLC now owns 6,746 shares of the company's stock worth $170,000 after purchasing an additional 596 shares during the period. 86.70% of the stock is currently owned by hedge funds and other institutional investors.
Revolution Medicines Company Profile
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Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.
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