Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Revolution Medicines Inc. shares valued at $27,986 were sold by Kelsey Stephen Michael on Dec 19. At $22.94 per share, Kelsey Stephen Michael sold 1,220 shares. The insider’s holdings dropped to 287,599 shares worth approximately $7.01 million following the completion of this transaction.
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Also, Horn Margaret A sold 1,220 shares, netting a total of over 27,985 in proceeds. Following the sale of shares at $22.94 each, the insider now holds 61,292 shares.
Before that, Wang Xiaolin had sold 708 shares from its account. In a trade valued at $16,241, the insider traded Revolution Medicines Inc. shares for $22.94 each. Upon closing the transaction, the insider’s holdings decreased to 708 shares, worth approximately $0.74 million.
As published in their initiating research note from Needham on December 14, 2022, Revolution Medicines Inc. [RVMD] has been a Buy and the price target has been revised to $31. This represents a 21.42% premium over Thursday’s closing price. Analysts at Oppenheimer started covering the stock with ‘”an Outperform”‘ outlook in a report released in late October. As of May 20, 2022, BofA Securities has initiated its “Neutral” rating for RVMD. Earlier on March 01, 2022, Stifel upgraded its rating. Their new recommendation was “a Buy” for RVMD stock which previously was a “a Hold”.
Analyzing RVMD Stock Performance
On Thursday, Revolution Medicines Inc. [NASDAQ: RVMD] plunged -2.83% to $24.36. The stock’s lowest price that day was $24.26, but it reached a high of $25.76 in the same session. During the last five days, there has been a drop of approximately -4.62%. Over the course of the year, Revolution Medicines Inc. shares have jumped approximately 2.27%. Shares of the company reached a 52-week high of $31.37 on 01/13/23 and a 52-week low of $21.75 on 01/09/23. A 50-day SMA is recorded $25.23, while a 200-day SMA reached $21.58. Nevertheless, trading volume fell to 0.58 million shares from 0.51 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 23.83, which, if violated, would cause prices to drop to 23.29. In the upper region, resistance lies at 25.33. The next price resistance is at 26.29. RSI (Relative Strength Index) is 40.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.54, which suggests the price will decrease in the coming days. Percent R is at 95.56%, 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 steep in short interest on Jan 30, 2023 dropping by -0.96 million shares to 7.17 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 8.13 million shares. A decline of -13.39% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.13 of the overall float, the days-to-cover ratio (short ratio) decline to 7.13.
Which companies own the most shares of Revolution Medicines Inc. (RVMD)?
According to Wellington Management Co. LLP filings, the company currently owns 8,873,974 shares, which is about 9.99% of the total RVMD shares outstanding. The investor’s shares have appreciated by 1,492,795 from its previous 13-F filing of 7381179.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $198,700,100. BlackRock Fund Advisors acquire a 22.90% interest valued at $136.37 million while Bellevue Asset Management AG purchased a 175,000 stake. A total of 19,319 shares of Revolution Medicines Inc. were bought by EcoR1 Capital, LLC during the quarter, and -531,123 were sold by SSgA Funds Management, Inc. In its current portfolio, T. Rowe Price Associates, Inc. holds 3,680,042 shares valued at $98.4 million.
In terms of Revolution Medicines Inc. share price expectations, FactSet research, analysts set an average price target of $29.67 in the next 12 months, up nearly 19.66% from the previous closing price of $25.07. Analysts anticipate Revolution Medicines Inc. stock to reach $38.00 by 2023, with the lowest price target being $20.00. In spite of this, 10 analysts ranked Revolution Medicines Inc. stock as an Overweight at the end of 2023. On September 23, 2021, Stifel assigned a price target of “a Hold” to the stock and initiated coverage with a $34.