Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Revolution Medicines Inc shares valued at $340,500 were purchased by JEFFREY TODD CISLINI on Nov 06 ’24. At $56.75 per share, JEFFREY TODD CISLINI acquired 6,000 shares.
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Also, GOLDSMITH MARK A sold 50,900 shares, netting a total of over 2,827,821 in proceeds. Following the sale of shares at $55.56 each, the insider now holds 300,170 shares.
Before that, GOLDSMITH MARK A had sold 10,000 shares from its account. In a trade valued at $550,238, the insider traded Revolution Medicines Inc shares for $55.02 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $1.21 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 10.47%. Over the course of the year, Revolution Medicines Inc shares have jumped approximately 106.07%. Shares of the company reached a 52-week high of $60.53 on 11/06/24 and a 52-week low of $25.93 on 01/18/24. A 50-day SMA is recorded $47.19, while a 200-day SMA reached $39.55. Nevertheless, trading volume fell to 1.98 million shares from 2.4 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 57.38, which, if violated, would cause prices to drop to 55.65. In the upper region, resistance lies at 60.47. The next price resistance is at 61.83. RSI (Relative Strength Index) is 76.15 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.60, which suggests the price will increase in the coming days. Percent R is at 9.83%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
