A company insider recently sold 10,000 shares of Revolution Medicines Inc. [RVMD]. Should You also Consider to Sale?


In a filing, Revolution Medicines Inc. revealed its Chief Operating Officer Horn Margaret A unloaded Company’s shares for reported $0.34 million on Aug 31. In the deal valued at $34.05 per share,10,000 shares were sold. As a result of this transaction, Horn Margaret A now holds 99,474 shares worth roughly $ 3.49 million.

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Then, Horn Margaret A sold 5,000 shares, generating $152,632 in total proceeds. Upon selling the shares at $30.53, the Chief Operating Officer now owns 99,474 shares.

Before that, Kelsey Stephen Michael sold 16,666 shares. Revolution Medicines Inc. shares valued at $539,978 were divested by the insider at a price of $32.40 per share. As a result of the transaction, Kelsey Stephen Michael now holds 292,448 shares, worth roughly $10.25 million.

JP Morgan upgraded its Revolution Medicines Inc. [RVMD] rating to an Overweight from a a Neutral in a research note published on Friday, February 28, 2023; the price target was increased to $38 from $32. PT values the company’s stock at a premium of 7.76 to its Friday closing price.

Price Performance Review of RVMD

On Friday, Revolution Medicines Inc. [NASDAQ:RVMD] saw its stock jump 3.18% to $35.05. On the same session, the stock had its day’s lowest price of $34.13, but rose to a high of $35.27. Over the last five days, the stock has gained 5.76%. Revolution Medicines Inc. shares have risen nearly 47.15% since the year began. Nevertheless, the stocks have risen 68.27% over the past one year. While a 52-week high of $34.14 was reached on 09/01/23, a 52-week low of $17.03 was recorded on 03/10/23. SMA at 50 days reached $28.69, while 200 days put it at $25.30. A total of 0.93 million shares were traded, compared to the trading of 0.76 million shares in the previous session.

Levels Of Support And Resistance For RVMD Stock

The 24-hour chart illustrates a support level at 34.36, which if violated will result in even more drops to 33.68. On the upside, there is a resistance level at 35.50. A further resistance level may holdings at 35.96. The Relative Strength Index (RSI) on the 14-day chart is 73.45, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.44, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.50%. Stochastics %K at 96.68% indicates the stock is a selling.

How much short interest is there in Revolution Medicines Inc.?

A steep rise in short interest was recorded in Revolution Medicines Inc. stocks on Aug 14, 2023, growing by 0.23 million shares to a total of 11.98 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 11.75 million shares. There was a rise of 1.92%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 11.62% of the overall stock float, the days-to-cover ratio (short ratio) rose to 10.

Revolution Medicines Inc. [RVMD] – Who Are The Largest Shareholders?

In filings from Wellington Management Co. LLP, it is revealed that the company now owns 10,289,689 shares, or roughly 9.68% of the outstanding RVMD shares. In other words, the investor’s shares have fallen by -135,679 from its previous 13-F filing of 10425368.0. Additionally, The Vanguard Group, Inc. decreased -0.78% of its stake after which the total value it holdings stand at $238,168,061, while EcoR1 Capital, LLC added 34.50% of its stake to hold $188.97 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 671,392 shares of Revolution Medicines Inc., while BVF Partners LP bought 1,300,000 shares. At present, T. Rowe Price Associates, Inc. is holding 4,915,472 shares valued at $129.03 million. Bellevue Asset Management AG owned 4,746,000 shares of the company at the time of its most recent 13F filing, worth $124.58 million.

According to FactSet, Revolution Medicines Inc.’s share price will average $34.14 in the next year, based on opinions of analysts polled by the firm. This is up nearly 0.09 percent from its previous closing price of $33.97. Analysts expect Revolution Medicines Inc. stock to reach the higher price of $40.00, while the lowest price estimate is $30.00. However, 8 analysts have rated RVMD stock as a Buy in their predictions for 2023.


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