Revolution Medicines (NASDAQ:RVMD) Stock Falls 4.7% – Should You Sell?

Revolution Medicines, Inc. (NASDAQ:RVMD) was down 4.7% during trading on Wednesday. The company traded as low as $181.01 and last traded at $184.00. 649,969 shares traded hands during trading, a decline of 77% from the average daily volume of 2,799,531 shares. The stock had previously closed at $193.06.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein upped their target price on shares of Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a research note on Friday, August 21st. Oppenheimer lifted their price target on shares of Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Brookline Capital Markets began coverage on shares of Revolution Medicines in a report on Monday, September 28th. They issued a “buy” rating and a $318.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Revolution Medicines in a research report on Thursday, September 10th. They issued an “overweight” rating and a $255.00 price objective for the company. Finally, Evercore reissued an “outperform” rating and issued a $320.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $263.15.

Revolution Medicines Stock Down 2.4%

The firm has a fifty day simple moving average of $195.24 and a 200-day simple moving average of $159.06. The company has a market capitalization of $38.14 billion, a PE ratio of -19.36 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 8.34 and a current ratio of 8.36.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 4th. The company reported ($1.90) EPS for the quarter, beating the consensus estimate of ($2.35) by $0.45. The business had revenue of $197.56 million for the quarter, compared to analysts’ expectations of $25.58 million. During the same quarter last year, the company posted ($1.61) earnings per share. Equities research analysts anticipate that Revolution Medicines, Inc. will post -7.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Revolution Medicines news, CFO Jack Anders sold 4,053 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total transaction of $807,519.72. Following the completion of the transaction, the chief financial officer directly owned 119,216 shares of the company’s stock, valued at $23,752,595.84. This trade represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Elizabeth M. Anderson sold 10,143 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.04, for a total transaction of $1,958,004.72. Following the transaction, the director directly owned 4,333 shares of the company’s stock, valued at approximately $836,442.32. This represents a 70.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 290,991 shares of company stock valued at $59,422,765. 7.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Revolution Medicines

Several large investors have recently modified their holdings of the stock. Burkett Financial Services LLC bought a new stake in Revolution Medicines in the third quarter valued at about $27,000. Contravisory Investment Management Inc. bought a new stake in Revolution Medicines during the second quarter valued at $32,000. Johnson Financial Group Inc. acquired a new stake in shares of Revolution Medicines during the second quarter worth $37,000. Silvant Capital Management LLC acquired a new stake in shares of Revolution Medicines during the second quarter worth $41,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Revolution Medicines in the 2nd quarter worth about $41,000. Institutional investors own 94.34% of the company’s stock.

About Revolution Medicines

Revolution Medicines, Inc. is a biotechnology company focused on developing targeted therapies for patients with RAS-driven cancers. Founded in 2014 and headquartered in Redwood City, California, the company’s research centers on RAS proteins, which can contribute to the growth of many cancers. The company’s pipeline includes drug candidates designed to inhibit mutant RAS proteins, including daraxonrasib (RMC-6236), which targets multiple RAS variants, and candidates directed at specific KRAS mutations.