- Revolution Medicines (RVMD) is trading at fresh all-time highs.
- RVMD exhibits strong technical momentum with a 100% technical “Buy” opinion from Barchart.
- Shares are up nearly 60% over the past year.
- Wall Street analysts are overwhelmingly bullish on RVMD, although sentiment is mixed across other platforms.
Today’s Featured Stock
Valued at $15 billion, Revolution Medicines (RVMD) is a clinical-stage oncology company. It is focused on developing targeted therapies for RAS-addicted cancers, which stem from mutations in RAS proteins.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. RVMD checks those boxes. Since the Trend Seeker signaled a new “Buy” on Sept. 2, the stock has gained 96.53%.
Barchart Technical Indicators for Revolution Medicines
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Revolution Medicines hit an all-time high of $79.07 on Dec. 3.
- RVMD has a Weighted Alpha of +109.79.
- Revolution Medicines has a 100% “Buy” opinion from Barchart.
- The stock gained 58.75% over the past year.
- RVMD has its Trend Seeker “Buy” signal intact.
- The stock recently traded at $78.47 with a 50-day moving average of $59.04.
- Revolution Medicines made 14 new highs and gained 30.78% in the last month.
- Relative Strength Index (RSI) is at 80.28.
- There’s a technical support level around $75.12.
Don’t Forget the Fundamentals
- $15 billion market capitalization.
- Revenue is projected to increase 903.48% next year.
- Earnings are estimated to decrease 12.15% next year.
Analyst and Investor Sentiment on Revolution Medicines
I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping stock, it’s hard to make money swimming against the tide.
It looks like Wall Street is high on this stock, but individual investors haven’t discovered it yet.
- The Wall Street analysts tracked by Barchart have issued 19 “Strong Buys,” 2 “Moderate Buys” and 1 “Hold” opinion on the stock.
- Value Line rates the stock “Average.”
- CFRA’s MarketScope Advisor rates it a “Strong Sell.”
- Morningstar thinks even with the stock’s recent runup, it’s undervalued with a price target of $81.52.
- The stock is not being followed by investors on Motley Fool.
- 3,620 investors monitor the stock on Seeking Alpha, which rates the stock a “Hold.”
- Short interest is 9.85% of the float.
The Bottom Line on Revolution Medicines
Like all other clinical-stage oncology stocks, the company is burning through cash investing in research. Future profits depend on its discoveries getting FDA approval for use. This is a highly speculative stock.
Today’s Chart of the Day was written by Jim Van Meerten. Read previous editions of the daily newsletter here.
Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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