Revolution Medicines (NASDAQ:RVMD) Rating Increased to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Revolution Medicines (NASDAQ:RVMD) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

A number of other brokerages have also recently issued reports on RVMD. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a report on Thursday, January 22nd. Evercore raised Revolution Medicines to a “strong-buy” rating in a report on Wednesday, February 25th. UBS Group began coverage on Revolution Medicines in a research report on Friday, February 27th. They issued a “buy” rating for the company. Jefferies Financial Group began coverage on Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating on the stock. Finally, Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Five investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $78.94.

Revolution Medicines Price Performance

RVMD opened at $94.29 on Wednesday. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of -15.95 and a beta of 0.99. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $101.53 and a 200-day moving average price of $78.24. Revolution Medicines has a twelve month low of $29.17 and a twelve month high of $124.49.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same quarter in the prior year, the company earned ($1.12) EPS. Equities analysts expect that Revolution Medicines will post -3.49 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mark A. Goldsmith sold 12,871 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $1,280,407.08. Following the transaction, the insider owned 276,698 shares of the company’s stock, valued at $27,525,917.04. This represents a 4.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Margaret A. Horn sold 4,583 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $455,916.84. Following the sale, the chief operating officer owned 157,570 shares in the company, valued at approximately $15,675,063.60. This trade represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 149,592 shares of company stock valued at $15,010,732 over the last three months. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its stake in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the last quarter. Indiana Trust & Investment Management Co purchased a new position in shares of Revolution Medicines in the 4th quarter worth about $32,000. Torren Management LLC bought a new position in shares of Revolution Medicines during the 4th quarter valued at about $33,000. Arax Advisory Partners bought a new position in shares of Revolution Medicines during the 4th quarter valued at about $38,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Revolution Medicines during the 4th quarter valued at about $40,000. Institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.