Revolution Medicines (NASDAQ:RVMD) Price Target Lowered to $64.00 at Stifel Nicolaus

Revolution Medicines (NASDAQ:RVMD) had its price objective cut by Stifel Nicolaus from $78.00 to $64.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on RVMD. Guggenheim upped their price objective on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, February 27th. UBS Group raised their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright boosted their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $65.23.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $33.62 on Tuesday. Revolution Medicines has a 52 week low of $29.55 and a 52 week high of $62.40. The company’s 50 day moving average price is $40.09 and its two-hundred day moving average price is $45.49. The company has a market capitalization of $6.25 billion, a P/E ratio of -9.36 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). Analysts forecast that Revolution Medicines will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In other Revolution Medicines news, COO Margaret A. Horn sold 3,058 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the sale, the chief operating officer now owns 153,533 shares of the company’s stock, valued at $5,993,928.32. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the transaction, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,660 shares of company stock worth $650,406. Company insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

Several hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in Revolution Medicines by 1.0% during the fourth quarter. California State Teachers Retirement System now owns 113,036 shares of the company’s stock worth $4,944,000 after acquiring an additional 1,104 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $994,000. Polar Asset Management Partners Inc. increased its stake in shares of Revolution Medicines by 46.0% during the fourth quarter. Polar Asset Management Partners Inc. now owns 34,600 shares of the company’s stock worth $1,513,000 after purchasing an additional 10,900 shares during the period. Mackenzie Financial Corp lifted its holdings in Revolution Medicines by 17.1% during the 4th quarter. Mackenzie Financial Corp now owns 6,055 shares of the company’s stock worth $265,000 after purchasing an additional 885 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in Revolution Medicines in the 4th quarter valued at $154,000. Institutional investors own 94.34% of the company’s stock.

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.