As of Wednesday, Revolution Medicines Inc.’s (NASDAQ:RVMD) stock closed at $20.42, up from $20.28 the previous day. While Revolution Medicines Inc. has overperformed by 0.69%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RVMD fell by -24.84%, with highs and lows ranging from $31.37 to $14.08, whereas the simple moving average fell by -8.87% in the last 200 days.
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On February 28, 2023, JP Morgan Upgraded Revolution Medicines Inc. (NASDAQ: RVMD) to Overweight. A report published by Needham on December 14, 2022, Initiated its previous ‘Buy’ rating for RVMD. Oppenheimer also rated RVMD shares as ‘Outperform’, setting a target price of $30 on the company’s shares in an initiating report dated October 21, 2022. BofA Securities Initiated an Neutral rating on May 20, 2022, and assigned a price target of $24. Stifel March 01, 2022d its ‘Hold’ rating to ‘Buy’ for RVMD, as published in its report on March 01, 2022. Stifel’s report from September 23, 2021 suggests a price prediction of $34 for RVMD shares, giving the stock a ‘Hold’ rating. Goldman also rated the stock as ‘Neutral’.
Analysis of Revolution Medicines Inc. (RVMD)
Further, the quarter-over-quarter increase in sales is 61.10%, 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 -41.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 10.70, 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 1.31M average volume. On a monthly basis, the volatility of the stock is set at 5.71%, whereas on a weekly basis, it is put at 4.86%, with a loss of -5.11% over the past seven days. Furthermore, long-term investors anticipate a median target price of $31.88, showing growth from the present price of $20.42, 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. As opposed to executive stock, institutional ownership accounts for 84.54% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
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 20.22% in the first quarter. The company now owns 8,873,974 shares of the stock, with a value of $237.47 million, following the purchase of 1,492,795 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 8.41%. During the last quarter, the company picked up 576,623 additional shares for a total stake of worth $198.85 million, bringing number of shares owned by the company to 7,430,819.
During the first quarter, BlackRock Fund Advisors added a 950,371 position in RVMD. Bellevue Asset Management AG purchased an additional 0.17 million shares in the last quarter, increasing its holdings by 3.74%, now holding 4.86 million shares worth $129.92 million. At the end of the first quarter, EcoR1 Capital, LLC increased its RVMD holdings by 0.43% and now holds 4.48 million RVMD shares valued at $119.83 million with the added 19319.0 shares during the period. RVMD shares are owned by institutional investors to the tune of 84.54% at present.
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