Revolution Medicines (NASDAQ:RVMD) Trading Down 6.1%

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price fell 6.1% during mid-day trading on Monday . The company traded as low as $42.61 and last traded at $42.63. 537,368 shares traded hands during trading, a decline of 60% from the average session volume of 1,335,562 shares. The stock had previously closed at $45.42.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RVMD. Barclays increased their target price on Revolution Medicines from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Needham & Company LLC decreased their target price on Revolution Medicines from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Bank of America increased their target price on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Jefferies Financial Group initiated coverage on Revolution Medicines in a research report on Monday, July 8th. They set a “buy” rating and a $63.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a report on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and an average target price of $53.45.

Revolution Medicines Trading Down 6.1 %

The company has a market cap of $7.03 billion, a PE ratio of -11.50 and a beta of 1.43. The business has a fifty day simple moving average of $43.98 and a two-hundred day simple moving average of $39.24.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $0.81 million. During the same period in the previous year, the business earned ($0.92) earnings per share. The firm’s revenue was down 73.8% on a year-over-year basis. Equities analysts expect that Revolution Medicines, Inc. will post -3.47 EPS for the current year.

Insiders Place Their Bets

In other Revolution Medicines news, General Counsel Jeff Cislini sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total value of $76,940.00. Following the completion of the sale, the general counsel now directly owns 49,487 shares of the company’s stock, valued at approximately $1,903,764.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Jeff Cislini sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the completion of the sale, the general counsel now directly owns 49,487 shares of the company’s stock, valued at approximately $1,903,764.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sushil Patel sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $44.00, for a total value of $94,820.00. Following the sale, the director now directly owns 19,948 shares of the company’s stock, valued at $877,712. The disclosure for this sale can be found here. Insiders sold 58,221 shares of company stock valued at $2,629,277 in the last three months. 8.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RVMD. Wellington Management Group LLP raised its holdings in Revolution Medicines by 40.8% in the fourth quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock valued at $426,818,000 after acquiring an additional 4,309,611 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Revolution Medicines by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock valued at $475,622,000 after purchasing an additional 122,721 shares during the last quarter. Farallon Capital Management LLC raised its holdings 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 purchasing an additional 2,249,820 shares in the last quarter. Baker BROS. Advisors LP lifted its position in shares of Revolution Medicines by 46.6% during the 1st quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company’s stock worth $243,312,000 after purchasing an additional 2,400,592 shares during the last quarter. Finally, BVF Inc. IL grew its stake in shares of Revolution Medicines by 50.2% during the fourth quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock worth $171,541,000 after purchasing an additional 2,000,000 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

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.