Revolution Medicines (NASDAQ:RVMD) Trading Down 4.6% - Time to Sell?

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) shares dropped 4.6% during trading on Tuesday . The company traded as low as $40.56 and last traded at $40.61. Approximately 193,793 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 947,921 shares. The stock had previously closed at $42.57.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RVMD shares. UBS Group upped their price target on Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. HC Wainwright boosted their price target on shares of Revolution Medicines from $64.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Oppenheimer boosted their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Monday, October 28th. Piper Sandler raised their price target on Revolution Medicines from $57.00 to $70.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Finally, Guggenheim increased their price objective on Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $66.25.

Revolution Medicines Price Performance

The stock has a market cap of $6.70 billion, a PE ratio of -11.09 and a beta of 1.46. The company has a 50-day simple moving average of $49.91 and a 200-day simple moving average of $46.70.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.05). During the same period in the previous year, the firm earned ($0.99) EPS. On average, equities analysts expect that Revolution Medicines, Inc. will post -3.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 4,329 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the completion of the transaction, the chief operating officer now directly owns 127,991 shares in the company, valued at approximately $5,810,791.40. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thilo Schroeder purchased 1,304,347 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the purchase, the director now owns 2,096,612 shares in the company, valued at $96,444,152. The trade was a 164.64 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 18,678 shares of company stock worth $847,981 in the last three months. Corporate insiders own 8.00% of the company's stock.

Hedge Funds Weigh In On Revolution Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farallon Capital Management LLC raised its stake in shares of Revolution Medicines by 30.0% in the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company's stock valued at $378,696,000 after acquiring an additional 2,249,820 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Revolution Medicines by 32.3% during the third quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company's stock worth $278,280,000 after purchasing an additional 1,497,026 shares in the last quarter. FMR LLC grew its stake in shares of Revolution Medicines by 4.4% in the third quarter. FMR LLC now owns 5,875,893 shares of the company's stock valued at $266,472,000 after buying an additional 250,037 shares in the last quarter. State Street Corp raised its holdings in shares of Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company's stock valued at $239,429,000 after buying an additional 208,516 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Revolution Medicines by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company's stock worth $164,517,000 after acquiring an additional 291,369 shares during the period. 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.