Revolution Medicines Inc. [RVMD] Chief Operating Officer makes an insider purchase of 17,767 shares worth 0.36 million.

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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 $362,541 were sold by Horn Margaret A on Oct 31. At $20.41 per share, Horn Margaret A sold 17,767 shares. The insider’s holdings dropped to 17,767 shares worth approximately $0.36 million following the completion of this transaction.


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Also, Horn Margaret A sold 17,768 shares, netting a total of over 357,968 in proceeds. Following the sale of shares at $20.15 each, the insider now holds 35,534 shares.

Before that, Anders Jack had sold 449 shares from its account. In a trade valued at $8,550, the Chief Financial Officer traded Revolution Medicines Inc. shares for $19.04 each. Upon closing the transaction, the insider’s holdings decreased to 449 shares, worth approximately $0.61 million.

As published in their initiating research note from Oppenheimer on October 21, 2022, Revolution Medicines Inc. [RVMD] has been an Outperform and the price target has been revised to $30. This represents a 31.8% premium over Wednesday’s closing price. Analysts at BofA Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid May. As of March 01, 2022, Stifel has increased its “Hold” rating to a “Buy” for RVMD. Earlier on September 23, 2021, Stifel initiated its rating. Their recommendation was “a Hold” for RVMD stock.

Analyzing RVMD Stock Performance

On Wednesday, Revolution Medicines Inc. [NASDAQ: RVMD] plunged -1.59% to $20.46. The stock’s lowest price that day was $20.03, but it reached a high of $21.71 in the same session. During the last five days, there has been a surge of approximately 3.33%. Over the course of the year, Revolution Medicines Inc. shares have dropped approximately -18.71%. 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 $19.82, while a 200-day SMA reached $20.68. Nevertheless, trading volume fell to 0.59 million shares from 0.62 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 19.76, which, if violated, would cause prices to drop to 19.05. In the upper region, resistance lies at 21.44. The next price resistance is at 22.41. RSI (Relative Strength Index) is 55.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.12, which suggests the price will increase in the coming days. Percent R is at 29.48%, indicating bullish price movement. Stochastics %K at selling 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 $107,793,760. Bellevue Asset Management AG acquire a 36.04% interest valued at $90.76 million while Ecor1 Capital LLC purchased a 3,003,972 stake. A total of 125,894 shares of Revolution Medicines Inc. were bought by BlackRock Fund Advisors 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 $61.03 million.

In terms of Revolution Medicines Inc. share price expectations, FactSet research, analysts set an average price target of $30.00 in the next 12 months, up nearly 44.3% from the previous closing price of $20.79. Analysts anticipate Revolution Medicines Inc. stock to reach $38.00 by 2022, with the lowest price target being $20.00. In spite of this, 9 analysts ranked Revolution Medicines Inc. stock as an Overweight at the end of 2022. On August 12, 2021, Goldman assigned a price target of “a Neutral” to the stock and downgraded coverage with a $27.

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