Revolution Medicines (NASDAQ:RVMD) Shares Down 5.3%

Revolution Medicines, Inc. (NASDAQ:RVMDGet Free Report)’s share price traded down 5.3% during trading on Monday . The stock traded as low as $36.48 and last traded at $36.58. 820,893 shares traded hands during trading, a decline of 37% from the average session volume of 1,304,261 shares. The stock had previously closed at $38.62.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wedbush increased their target price on Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $46.00 price target on shares of Revolution Medicines in a report on Thursday, May 9th. Piper Sandler started coverage on shares of Revolution Medicines in a report on Monday, March 11th. They set an “overweight” rating and a $43.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $44.00 price target on shares of Revolution Medicines in a report on Monday, May 13th. Finally, Oppenheimer boosted their price target on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $43.20.

View Our Latest Research Report on RVMD

Revolution Medicines Stock Down 3.9 %

The business’s 50 day moving average is $37.87 and its two-hundred day moving average is $32.02. The firm has a market capitalization of $6.12 billion, a P/E ratio of -9.89 and a beta of 1.45.

Revolution Medicines (NASDAQ:RVMDGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.05. During the same quarter in the prior year, the firm earned ($0.72) earnings per share. The firm’s revenue was down 100.0% on a year-over-year basis. As a group, equities analysts anticipate that Revolution Medicines, Inc. will post -3.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $40.03, for a total value of $400,300.00. Following the sale, the chief financial officer now directly owns 101,959 shares in the company, valued at $4,081,418.77. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Revolution Medicines news, General Counsel Jeff Cislini sold 1,500 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $30.99, for a total transaction of $46,485.00. Following the sale, the general counsel now owns 54,374 shares in the company, valued at approximately $1,685,050.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the sale, the chief financial officer now owns 101,959 shares in the company, valued at approximately $4,081,418.77. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,155 shares of company stock worth $792,620. 8.00% of the stock is owned by corporate insiders.

Institutional Trading of Revolution Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank grew its stake in Revolution Medicines by 5.3% during the 3rd quarter. Amalgamated Bank now owns 15,587 shares of the company’s stock valued at $431,000 after acquiring an additional 787 shares in the last quarter. Swiss National Bank grew its stake in Revolution Medicines by 1.1% during the 3rd quarter. Swiss National Bank now owns 163,600 shares of the company’s stock valued at $4,528,000 after acquiring an additional 1,800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Revolution Medicines by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 766,669 shares of the company’s stock valued at $21,221,000 after acquiring an additional 55,558 shares in the last quarter. HighTower Advisors LLC purchased a new position in Revolution Medicines during the 3rd quarter valued at about $297,000. Finally, Deutsche Bank AG grew its stake in Revolution Medicines by 13.7% during the 3rd quarter. Deutsche Bank AG now owns 53,001 shares of the company’s stock valued at $1,467,000 after acquiring an additional 6,378 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

About Revolution Medicines

(Get Free Report)

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.

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