Revolution Medicines (NASDAQ:RVMD) Reaches New 12-Month Low – Here’s What Happened

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) reached a new 52-week low during trading on Saturday . The stock 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.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Needham & Company LLC lowered their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, February 27th. HC Wainwright increased their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. UBS Group raised 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. Finally, Stifel Nicolaus dropped their price objective on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $65.23.

Revolution Medicines Stock Down 4.7 %

The company has a market cap of $5.82 billion, a price-to-earnings ratio of -8.72 and a beta of 1.37. The company has a fifty day simple moving average of $39.61 and a two-hundred day simple moving average of $45.24.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). On average, research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

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

Hedge Funds Weigh In On Revolution Medicines

A number of institutional investors have recently modified their holdings of the company. IFP Advisors Inc purchased a new stake in Revolution Medicines in the 4th quarter worth approximately $34,000. Quarry LP acquired a new stake in shares of Revolution Medicines during the third quarter worth $82,000. Sterling Capital Management LLC grew its position in shares of Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after purchasing an additional 1,672 shares during the period. Farther Finance Advisors LLC increased its stake in Revolution Medicines by 368.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in Revolution Medicines during the fourth quarter worth about $104,000. 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.