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 $46,481 were sold by Cislini Jeff on Mar 27 ’24. At $30.99 per share, Cislini Jeff sold 1,500 shares. The insider’s holdings dropped to 54,374 shares worth approximately $2.03 million following the completion of this transaction.
Also, GOLDSMITH MARK A sold 5,788 shares, netting a total of over 182,804 in proceeds. Following the sale of shares at $31.58 each, the insider now holds 460,379 shares.
Before that, Horn Margaret A had sold 2,914 shares from its account. In a trade valued at $92,033, the Chief Operating Officer traded Revolution Medicines Inc shares for $31.58 each. Upon closing the transaction, the insider’s holdings decreased to 2,914 shares, worth approximately $5.22 million.
As published in a research note from Raymond James on April 10, 2024, Revolution Medicines Inc [RVMD] has been rated up from an Outperform to a Strong buy and the price target has been revised to $48 from $36. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid March. As of January 05, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for RVMD. Earlier on January 04, 2024, Wedbush initiated its rating. Their recommendation was “an Outperform” for RVMD stock.
Analyzing RVMD Stock Performance
During the last five days, there has been a surge of approximately 24.12%. Over the course of the year, Revolution Medicines Inc shares have jumped approximately 30.44%. Shares of the company reached a 52-week high of $38.73 on 04/11/24 and a 52-week low of $25.93 on 01/18/24. A 50-day SMA is recorded $30.86, while a 200-day SMA reached $27.95. Nevertheless, trading volume fell to 2.51 million shares from 1.95 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 35.76, which, if violated, would cause prices to drop to 34.12. In the upper region, resistance lies at 38.89. The next price resistance is at 40.38. RSI (Relative Strength Index) is 72.11 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.53, which suggests the price will increase in the coming days. Percent R is at 14.38%, 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 steep in short interest on Mar 15, 2024 dropping by -0.56 million shares to 16.4 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 16.96 million shares. A decline of -3.41% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 9.19 of the overall float, the days-to-cover ratio (short ratio) decline to 9.19.
