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 $99,152 were sold by Anders Jack on Sep 16 ’24. At $44.19 per share, Anders Jack sold 2,244 shares. The insider’s holdings dropped to 98,932 shares worth approximately $4.57 million following the completion of this transaction.
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Also, GOLDSMITH MARK A sold 11,715 shares, netting a total of over 517,631 in proceeds. Following the sale of shares at $44.19 each, the insider now holds 300,170 shares.
Before that, Horn Margaret A had sold 4,331 shares from its account. In a trade valued at $191,367, the Chief Operating Officer traded Revolution Medicines Inc shares for $44.19 each. Upon closing the transaction, the insider’s holdings decreased to 4,331 shares, worth approximately $6.11 million.
As published in a research note from Needham on July 16, 2024, Revolution Medicines Inc [RVMD] has been retained to a Buy and the price target has been revised to $62. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid July. As of July 08, 2024, Jefferies has initiated its “Buy” rating for RVMD. Earlier on April 12, 2024, Needham resumed its rating. Their recommendation was “a Buy” for RVMD stock.
Analyzing RVMD Stock Performance
During the last five days, there has been a surge of approximately 10.03%. Over the course of the year, Revolution Medicines Inc shares have jumped approximately 61.02%. Shares of the company reached a 52-week high of $48.61 on 07/15/24 and a 52-week low of $25.93 on 01/18/24. A 50-day SMA is recorded $43.99, while a 200-day SMA reached $35.68. Nevertheless, trading volume fell to 1.27 million shares from 0.88 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 44.93, which, if violated, would cause prices to drop to 43.67. In the upper region, resistance lies at 47.02. The next price resistance is at 47.85. RSI (Relative Strength Index) is 63.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.72, which suggests the price will increase in the coming days. Percent R is at 7.24%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.