why Revolution Medicines Inc. [RVMD] is a Good Choice for Investors After New Price Target of $33.00

Revolution Medicines Inc. [NASDAQ: RVMD] jumped around 1.28 points on Friday, while shares priced at $31.23 at the close of the session, up 4.27%. The company report on September 15, 2021 that Revolution Medicines to Participate in 3rd Annual RAS-Targeted Drug Development Summit.

Company’s Scientific Leadership to Highlight Key Findings from Ongoing RAS(ON) Inhibitor Programs.

Revolution Medicines, Inc. (Nasdaq: RVMD), a clinical-stage precision oncology company focused on developing targeted drugs to inhibit frontier targets that drive and sustain RAS-addicted cancers, announced that the company will participate in the upcoming 3rd Annual RAS-Targeted Drug Development Summit being held September 21-23, 2021. Steve Kelsey, M.D., president, research and development, will serve as chairperson for one of the conference’s scientific tracks and moderate a panel discussion during the virtual event. In addition, Jan Smith, Ph.D., senior vice president, biology and Bob Nichols, Ph.D., project lead for RMC-6291, the company’s development-stage KRASG12C(ON) inhibitor, will each deliver a scientific presentation as part of the conference.

Revolution Medicines Inc. stock is now -21.12% down from its year-to-date (YTD) trading value. RVMD Stock saw the intraday high of $31.48 and lowest of $29.39 per share. The company’s 52-week high price is 56.18, which means current price is +43.41% above from all time high which was touched on 02/05/21.

Compared to the average trading volume of 595.89K shares, RVMD reached a trading volume of 1524311 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Revolution Medicines Inc. [RVMD]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RVMD shares is $33.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RVMD stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Revolution Medicines Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 12, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on May 18, 2021, representing the official price target for Revolution Medicines Inc. stock. Previously, the target price had yet another raise to $55, while H.C. Wainwright analysts kept a Buy rating on RVMD stock.

The Average True Range (ATR) for Revolution Medicines Inc. is set at 1.61, with the Price to Sales ratio for RVMD stock in the period of the last 12 months amounting to 54.82. The Price to Book ratio for the last quarter was 3.35, with the Price to Cash per share for the same quarter was set at 9.16.

How has RVMD stock performed recently?

Revolution Medicines Inc. [RVMD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.97. With this latest performance, RVMD shares gained by 17.36% in over the last four-week period, additionally sinking by -35.45% over the last 6 months – not to mention a rise of 0.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RVMD stock in for the last two-week period is set at 61.38, with the RSI for the last a single of trading hit 65.49, and the three-weeks RSI is set at 57.57 for Revolution Medicines Inc. [RVMD]. The present Moving Average for the last 50 days of trading for this stock 28.63, while it was recorded at 30.19 for the last single week of trading, and 37.03 for the last 200 days.

Revolution Medicines Inc. [RVMD]: Deeper insight into the fundamentals

Revolution Medicines Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.40 and a Current Ratio set at 14.40.

Insider trade positions for Revolution Medicines Inc. [RVMD]

There are presently around $2,443 million, or 98.80% of RVMD stock, in the hands of institutional investors. The top three institutional holders of RVMD stocks are: FMR LLC with ownership of 9,534,259, which is approximately -11.983% of the company’s market cap and around 1.20% of the total institutional ownership; SVENNILSON PETER, holding 7,977,384 shares of the stock with an approximate value of $249.13 million in RVMD stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $174.23 million in RVMD stock with ownership of nearly 42.299% of the company’s market capitalization.

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83 institutional holders increased their position in Revolution Medicines Inc. [NASDAQ:RVMD] by around 10,455,008 shares. Additionally, 37 investors decreased positions by around 6,545,282 shares, while 27 investors held positions by with 61,237,336 shares. The mentioned changes placed institutional holdings at 78,237,626 shares, according to the latest SEC report filing. RVMD stock had 19 new institutional investments in for a total of 1,032,216 shares, while 19 institutional investors sold positions of 2,412,962 shares during the same period.

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