Revolution Medicines (NASDAQ:RVMD) Shares Gap Down – Here’s What Happened

Revolution Medicines, Inc. (NASDAQ:RVMD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $117.63, but opened at $93.50. Revolution Medicines shares last traded at $94.6340, with a volume of 3,380,382 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RVMD shares. Stifel Nicolaus began coverage on shares of Revolution Medicines in a research report on Wednesday, October 15th. They issued a “buy” rating and a $85.00 price objective for the company. Needham & Company LLC upped their target price on Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. UBS Group upgraded shares of Revolution Medicines to a “strong-buy” rating in a research report on Thursday, December 4th. Mizuho began coverage on shares of Revolution Medicines in a report on Tuesday, October 21st. They set an “outperform” rating and a $90.00 price objective on the stock. Finally, Royal Bank Of Canada assumed coverage on Revolution Medicines in a report on Monday, November 3rd. They set an “outperform” rating and a $77.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and an average target price of $78.94.

Revolution Medicines Stock Down 2.5%

The firm has a market capitalization of $18.82 billion, a price-to-earnings ratio of -18.83 and a beta of 0.99. The business has a 50 day simple moving average of $88.88 and a 200-day simple moving average of $60.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter last year, the business earned ($0.94) earnings per share. On average, equities analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the sale, the chief financial officer directly owned 108,065 shares in the company, valued at $10,590,370. This represents a 8.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark A. Goldsmith sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $75.08, for a total transaction of $4,504,800.00. Following the completion of the transaction, the insider directly owned 247,863 shares of the company’s stock, valued at $18,609,554.04. This represents a 19.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 243,792 shares of company stock valued at $19,757,740 over the last three months. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Revolution Medicines

A number of large investors have recently modified their holdings of RVMD. Indiana Trust & Investment Management Co purchased a new position in shares of Revolution Medicines in the 4th quarter valued at about $32,000. CWM LLC lifted its position in Revolution Medicines by 171.3% during the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after acquiring an additional 579 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Revolution Medicines by 45.1% in the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after acquiring an additional 260 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Revolution Medicines in the 4th quarter valued at approximately $40,000. Finally, Signaturefd LLC grew its stake in shares of Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after purchasing an additional 163 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.