Stifel Nicolaus Issues Pessimistic Forecast for Revolution Medicines (NASDAQ:RVMD) Stock Price

Revolution Medicines (NASDAQ:RVMD) had its price objective lowered by analysts at Stifel Nicolaus from $80.00 to $78.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 91.06% from the company’s current price.

Several other analysts also recently issued reports on RVMD. JPMorgan Chase & Co. boosted their price target on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Piper Sandler boosted their target price on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Guggenheim raised their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Needham & Company LLC cut their price objective on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday. Finally, HC Wainwright raised their target price on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $66.46.

Revolution Medicines Stock Up 0.8 %

Shares of RVMD traded up $0.33 during trading hours on Thursday, hitting $40.83. The company had a trading volume of 562,268 shares, compared to its average volume of 1,266,223. The business has a fifty day moving average of $42.30 and a 200-day moving average of $46.24. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of -11.34 and a beta of 1.45. Revolution Medicines has a 12 month low of $29.00 and a 12 month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, equities analysts expect that Revolution Medicines will post -3.49 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In related news, COO Margaret A. Horn sold 4,329 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the sale, the chief operating officer now directly owns 127,991 shares of the company’s stock, valued at $5,810,791.40. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jack Anders sold 2,635 shares of Revolution Medicines stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the completion of the transaction, the chief financial officer now owns 96,470 shares in the company, valued at approximately $4,379,738. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,678 shares of company stock worth $847,981 over the last three months. Corporate insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Hedge funds have recently made changes to their positions in the company. IFP Advisors Inc acquired a new position in Revolution Medicines in the 4th quarter valued at approximately $34,000. Quarry LP bought a new stake in shares of Revolution Medicines in the third quarter worth $82,000. Sterling Capital Management LLC grew its stake in shares of Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after purchasing an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after purchasing an additional 1,613 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in Revolution Medicines during the 4th quarter worth about $104,000. 94.34% of the stock is owned by institutional investors and hedge funds.

About Revolution Medicines

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.