As of Tuesday, Revolution Medicines Inc.’s (NASDAQ:RVMD) stock closed at $27.97, up from $27.48 the previous day. While Revolution Medicines Inc. has overperformed by 1.78%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RVMD rose by 23.16%, with highs and lows ranging from $31.37 to $14.08, whereas the simple moving average jumped by 32.10% in the last 200 days.
On December 14, 2022, Needham started tracking Revolution Medicines Inc. (NASDAQ: RVMD) recommending Buy. A report published by Oppenheimer on October 21, 2022, Initiated its previous ‘Outperform’ rating for RVMD. BofA Securities also rated RVMD shares as ‘Neutral’, setting a target price of $24 on the company’s shares in an initiating report dated May 20, 2022. Stifel March 01, 2022d the rating to Buy on March 01, 2022, and set its price target from $36 to $26. Stifel initiated its ‘Hold’ rating for RVMD, as published in its report on September 23, 2021. Goldman’s report from August 12, 2021 suggests a price prediction of $27 for RVMD shares, giving the stock a ‘Neutral’ rating. Goldman also rated the stock as ‘Buy’.
Analysis of Revolution Medicines Inc. (RVMD)
Further, the quarter-over-quarter increase in sales is 209.10%, showing a positive trend in the upcoming months.
One of the most important indicators of Revolution Medicines Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -42.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 9.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and RVMD is recording 955.87K average volume. On a monthly basis, the volatility of the stock is set at 6.59%, whereas on a weekly basis, it is put at 4.77%, with a gain of 2.15% over the past seven days. Furthermore, long-term investors anticipate a median target price of $29.56, showing growth from the present price of $27.97, which can serve as yet another indication of whether RVMD is worth investing in or should be passed over.
How Do You Analyze Revolution Medicines Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.80%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in RVMD shares?
The recent increase in stakes in RVMD appears to be a result of several institutional investors and hedge funds increasing their positions. Wellington Management Co. LLP’s position in RVMD has increased by 21.07% in the first quarter. The company now owns 8,936,469 shares of the stock, with a value of $212.87 million, following the purchase of 1,555,290 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in RVMD during the first quarter, upping its stake by 25.39%. During the last quarter, the company picked up 1,387,981 additional shares for a total stake of worth $163.27 million, bringing number of shares owned by the company to 6,854,196.
During the first quarter, BlackRock Fund Advisors added a 626,974 position in RVMD. Bellevue Asset Management AG purchased an additional 1.3 million shares in the last quarter, increasing its holdings by 38.33%, now holding 4.68 million shares worth $111.48 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its RVMD holdings by 39.33% and now holds 4.31 million RVMD shares valued at $102.72 million with the added 1.22 million shares during the period.