Revolution Medicines (NASDAQ:RVMD) Trading Down 5.3%

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) were down 5.3% on Monday . The stock traded as low as $36.48 and last traded at $36.58. Approximately 820,893 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 1,304,261 shares. The stock had previously closed at $38.62.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RVMD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 target price on shares of Revolution Medicines in a research report on Thursday, May 9th. Raymond James upgraded Revolution Medicines from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $36.00 to $48.00 in a research note on Wednesday, April 10th. HC Wainwright reiterated a “buy” rating and set a $44.00 price target on shares of Revolution Medicines in a research note on Monday, May 13th. Oppenheimer upped their price target on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Finally, Piper Sandler assumed coverage on Revolution Medicines in a research note on Monday, March 11th. They set an “overweight” rating and a $43.00 price target for the company. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $43.20.

Revolution Medicines Stock Performance

The stock has a 50-day simple moving average of $38.07 and a 200 day simple moving average of $32.21. The company has a market cap of $6.22 billion, a P/E ratio of -10.06 and a beta of 1.45.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.05. During the same period in the prior year, the company posted ($0.72) earnings per share. The business’s revenue for the quarter was down 100.0% on a year-over-year basis. Sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Jeff Cislini sold 1,500 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $30.99, for a total value of $46,485.00. Following the completion of the transaction, the general counsel now directly owns 54,374 shares of the company’s stock, valued at approximately $1,685,050.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the completion of the sale, the chief financial officer now directly owns 101,959 shares of the company’s stock, valued at approximately $4,081,418.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jeff Cislini sold 1,500 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $30.99, for a total value of $46,485.00. Following the sale, the general counsel now directly owns 54,374 shares of the company’s stock, valued at $1,685,050.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,155 shares of company stock worth $792,620. 8.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently bought and sold shares of RVMD. Amalgamated Bank increased its holdings 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 purchasing an additional 787 shares in the last quarter. Swiss National Bank increased its holdings 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 purchasing an additional 1,800 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 purchasing an additional 55,558 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Revolution Medicines during the 3rd quarter valued at $297,000. Finally, Deutsche Bank AG boosted its position in Revolution Medicines by 13.7% in the 3rd quarter. Deutsche Bank AG now owns 53,001 shares of the company’s stock valued at $1,467,000 after buying an additional 6,378 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Company Profile

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.