Revolution Medicines (NASDAQ:RVMD) Sets New 52-Week Low – Here’s What Happened

Revolution Medicines, Inc. (NASDAQ:RVMD) shares reached a new 52-week low during mid-day trading on Saturday . The company traded as low as $30.94 and last traded at $31.32, with a volume of 2376753 shares. The stock had previously closed at $32.87.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Needham & Company LLC cut their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, February 27th. UBS Group increased 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, HC Wainwright boosted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note 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 stock. According to MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $65.23.

Revolution Medicines Trading Down 4.7 %

The business has a 50 day simple moving average of $39.61 and a two-hundred day simple moving average of $45.26. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of -8.72 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last released its 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). Research analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently bought and sold shares of RVMD. Boxer Capital Management LLC bought a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $187,184,000. Janus Henderson Group PLC grew its stake in Revolution Medicines by 54.5% during the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company’s stock worth $414,777,000 after buying an additional 3,346,755 shares during the last quarter. Vanguard Group Inc. grew its stake in Revolution Medicines by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock worth $747,799,000 after buying an additional 2,185,082 shares during the last quarter. Farallon Capital Management LLC increased its position in Revolution Medicines by 17.1% in the fourth quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock worth $579,498,000 after buying an additional 1,931,000 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in Revolution Medicines in the third quarter valued at $83,082,000. 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.