Revolution Medicines (NASDAQ:RVMD) Sets New 12-Month Low - Here's What Happened

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report)'s share price reached a new 52-week low on Saturday . The company traded as low as $30.94 and last traded at $31.32, with a volume of 2376753 shares traded. The stock had previously closed at $32.87.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RVMD. UBS Group lifted their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Stifel Nicolaus reduced their price objective on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Wedbush restated an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $59.00 price target on shares of Revolution Medicines in a report on Tuesday. Finally, HC Wainwright boosted their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, March 3rd. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of "Buy" and a consensus price target of $65.23.

Revolution Medicines Stock Down 4.1 %

The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of -9.38 and a beta of 1.37. The business has a fifty day simple moving average of $38.54 and a two-hundred day simple moving average of $44.76.

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Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 1,864 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the transaction, the chief financial officer now owns 115,006 shares in the company, valued at approximately $4,489,834.24. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the sale, the chief operating officer now owns 153,533 shares in the company, valued at $5,993,928.32. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,660 shares of company stock valued at $650,406. 8.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc bought a new position in shares of Revolution Medicines in the fourth quarter worth about $34,000. Sterling Capital Management LLC raised its position in Revolution Medicines by 588.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock worth $86,000 after purchasing an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC raised its position in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after purchasing an additional 1,613 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Revolution Medicines during the 4th quarter worth $104,000. Finally, GF Fund Management CO. LTD. bought a new position in Revolution Medicines in the 4th quarter valued at $154,000. Institutional investors and hedge funds own 94.34% of the company's stock.

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.