Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report)'s stock price dropped 4.6% on Tuesday . The company traded as low as $40.56 and last traded at $40.61. Approximately 193,793 shares changed 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
RVMD has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Oppenheimer boosted their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. Piper Sandler boosted their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Barclays boosted their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Finally, Guggenheim boosted their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $66.25.
View Our Latest Analysis on RVMD
Revolution Medicines Price Performance
The firm's 50-day moving average price is $49.18 and its 200-day moving average price is $46.66. The company has a market cap of $6.71 billion, a price-to-earnings ratio of -11.11 and a beta of 1.46.
Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same period in the prior year, the business earned ($0.99) EPS. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.5 earnings per share for the current year.
Insider Transactions at Revolution Medicines
In other news, CFO Jack Anders sold 2,635 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $119,629.00. Following the completion of the transaction, the chief financial officer now directly owns 96,470 shares in the company, valued at approximately $4,379,738. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thilo Schroeder bought 1,304,347 shares of the firm's stock in a transaction dated Thursday, December 5th. The stock was purchased at an average price of $46.00 per share, with a total value of $59,999,962.00. Following the completion of the purchase, the director now directly owns 2,096,612 shares of the company's stock, valued at approximately $96,444,152. This trade represents a 164.64 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 18,678 shares of company stock valued at $847,981 over the last 90 days. Corporate insiders own 8.00% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Sandy Cove Advisors LLC purchased a new position in shares of Revolution Medicines in the fourth quarter valued at $1,837,000. Avanza Fonder AB bought a new position in Revolution Medicines during the 4th quarter valued at $173,000. Everence Capital Management Inc. bought a new position in Revolution Medicines during the 4th quarter valued at $203,000. Lord Abbett & CO. LLC bought a new position in Revolution Medicines during the 3rd quarter valued at $83,082,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Revolution Medicines during the 3rd quarter valued at $801,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.
Revolution Medicines Company Profile
(
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.
See Also
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