Revolution Medicines (NASDAQ:RVMD) Stock Price Down 4.2% – Should You Sell?

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price traded down 4.2% on Tuesday . The stock traded as low as $49.01 and last traded at $49.64. 268,400 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,336,484 shares. The stock had previously closed at $51.80.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RVMD. Guggenheim raised their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday. Oppenheimer raised their price objective on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Barclays upped their price objective on Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Wedbush reissued an “outperform” rating and set a $70.00 price target on shares of Revolution Medicines in a research note on Monday. Finally, Piper Sandler upped their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $63.00.

Revolution Medicines Trading Down 5.8 %

The firm’s 50-day moving average price is $51.89 and its 200 day moving average price is $45.35. The company has a market cap of $8.21 billion, a price-to-earnings ratio of -13.61 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter last year, the company earned ($0.99) EPS. Analysts forecast that Revolution Medicines, Inc. will post -3.51 earnings per share for the current fiscal year.

Insider Transactions at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the transaction, the insider now owns 300,170 shares of the company’s stock, valued at $13,486,638.10. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total value of $249,704.00. Following the sale, the director now owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This represents a 28.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,866 shares of company stock valued at $6,355,624 over the last quarter. 8.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after acquiring an additional 222 shares during the last quarter. Quarry LP purchased a new stake in shares of Revolution Medicines during the 3rd quarter worth approximately $82,000. Values First Advisors Inc. acquired a new position in shares of Revolution Medicines in the 3rd quarter valued at $93,000. Nisa Investment Advisors LLC grew its position in shares of Revolution Medicines by 10.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 320 shares during the last quarter. Finally, KBC Group NV raised its stake in Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after acquiring an additional 368 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

About Revolution Medicines

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.