Revolution Medicines (NASDAQ:RVMD) Trading Down 4.6% – Should You Sell?

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price was down 4.6% during trading on Tuesday . The stock traded as low as $40.56 and last traded at $40.61. Approximately 193,793 shares were traded during trading, a decline of 80% from the average daily volume of 947,921 shares. The stock had previously closed at $42.57.

Analyst Ratings Changes

Several equities research analysts recently commented on RVMD shares. UBS Group lifted their price target on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Piper Sandler lifted their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Guggenheim lifted their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Barclays lifted their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Revolution Medicines currently has an average rating of “Buy” and a consensus price target of $66.25.

Revolution Medicines Stock Down 0.2 %

The firm has a market cap of $6.71 billion, a PE ratio of -11.11 and a beta of 1.46. The company’s fifty day moving average price is $49.18 and its two-hundred day moving average price is $46.66.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter last year, the firm earned ($0.99) EPS. As a group, analysts predict that Revolution Medicines, Inc. will post -3.5 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 11,714 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $531,815.60. Following the sale, the insider now owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. The trade was a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thilo Schroeder acquired 1,304,347 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were bought at an average cost of $46.00 per share, for a total transaction of $59,999,962.00. Following the acquisition, the director now owns 2,096,612 shares of the company’s stock, valued at $96,444,152. This represents a 164.64 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 18,678 shares of company stock valued at $847,981. Corporate insiders own 8.00% of the company’s stock.

Institutional Trading of Revolution Medicines

A number of institutional investors have recently added to or reduced their stakes in RVMD. American Century Companies Inc. purchased a new stake in shares of Revolution Medicines in the second quarter valued at about $20,154,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Revolution Medicines in the second quarter valued at about $1,108,000. Amalgamated Bank lifted its holdings in shares of Revolution Medicines by 7.4% in the second quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock valued at $205,000 after purchasing an additional 365 shares in the last quarter. Seven Eight Capital LP lifted its holdings in shares of Revolution Medicines by 1.6% in the second quarter. Seven Eight Capital LP now owns 69,602 shares of the company’s stock valued at $2,701,000 after purchasing an additional 1,108 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Revolution Medicines in the second quarter valued at about $920,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

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.