Revolution Medicines Inc. [RVMD] stock for 8,550 USD was sold by Anders Jack

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Revolution Medicines Inc. shares valued at $8,550 were sold by Anders Jack on Sep 19. At $19.04 per share, Anders Jack sold 449 shares. The insider’s holdings dropped to 29,956 shares worth approximately $0.55 million following the completion of this transaction.

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Also, Horn Margaret A sold 1,267 shares, netting a total of over 24,127 in proceeds. Following the sale of shares at $19.04 each, the insider now holds 62,512 shares.

Before that, Kelsey Stephen Michael had sold 1,267 shares from its account. In a trade valued at $24,127, the insider traded Revolution Medicines Inc. shares for $19.04 each. Upon closing the transaction, the insider’s holdings decreased to 1,267 shares, worth approximately $5.32 million.

As published in their initiating research note from BofA Securities on May 20, 2022, Revolution Medicines Inc. [RVMD] has been a Neutral and the price target has been revised to $24. This represents a 23.29% premium over Thursday’s closing price. Analysts at Stifel upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of September 23, 2021, Stifel has initiated its “Hold” rating for RVMD. Earlier on August 12, 2021, Goldman downgraded its rating. Their new recommendation was “a Neutral” for RVMD stock which previously was a “a Buy”.

Analyzing RVMD’s Price Performance

On Thursday, Revolution Medicines Inc. [NASDAQ: RVMD] rose 5.44% to $18.41. The stock’s lowest price that day was $17.03, but it reached a high of $18.60 in the same session. During the last five days, there has been a drop of approximately -10.98%. Over the course of the year, Revolution Medicines Inc. shares have dropped approximately -26.86%. Shares of the company reached a 52-week high of $27.49 on 04/05/22 and a 52-week low of $14.08 on 05/12/22. A 50-day SMA is recorded $22.20, while a 200-day SMA reached $21.57. Nevertheless, trading volume fell to 1.51 million shares from 0.81 million shares the previous day.

Support And Resistance Levels for Revolution Medicines Inc. (RVMD)

According to the 24-hour chart, there is a support level at 17.43, which, if violated, would cause prices to drop to 16.44. In the upper region, resistance lies at 19.00. The next price resistance is at 19.58. RSI (Relative Strength Index) is 39.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.75, which suggests the price will decrease in the coming days. Percent R is at 75.87%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Revolution Medicines Inc. subject to short interest?

Stocks of Revolution Medicines Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.63 million shares to 10.84 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 9.21 million shares. A jump of 15.04% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 12.62 of the overall float, the days-to-cover ratio (short ratio) jumped to 12.62.

Which companies own the most shares of Revolution Medicines Inc. (RVMD)?

According to Wellington Management Co. LLP filings, the company currently owns 6,169,002 shares, which is about 7.03% of the total RVMD shares outstanding. The investor’s shares have appreciated by 2,085,013 from its previous 13-F filing of 4083989.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $113,861,258. Ecor1 Capital LLC acquire a 235.77% interest valued at $89.11 million while BlackRock Fund Advisors purchased a 125,894 stake. A total of 72,600 shares of Revolution Medicines Inc. were bought by Bellevue Asset Management AG during the quarter, and 0 by Farallon Capital Management LLC. In its current portfolio, SSgA Funds Management, Inc. holds 3,094,982 shares valued at $64.47 million.


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