Revolution Medicines (NASDAQ:RVMD) Sees Large Volume Increase

Revolution Medicines, Inc. (NASDAQ:RVMD) shares saw an uptick in trading volume on Friday . 30,779 shares traded hands during mid-day trading, a decline of 95% from the previous session’s volume of 621,660 shares.The stock last traded at $30.74 and had previously closed at $31.65.

Several brokerages have recently weighed in on RVMD. SVB Leerink decreased their price target on Revolution Medicines from $55.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, May 11th. JPMorgan Chase & Co. increased their price target on Revolution Medicines from $33.00 to $44.00 in a research note on Friday, January 29th. Finally, Zacks Investment Research cut Revolution Medicines from a “hold” rating to a “sell” rating in a research note on Friday.

The firm has a 50-day moving average of $39.10 and a 200 day moving average of $41.52.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Monday, May 10th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.01). Revolution Medicines had a negative net margin of 191.17% and a negative return on equity of 32.25%. On average, equities analysts forecast that Revolution Medicines, Inc. will post -1.81 earnings per share for the current year.

In other Revolution Medicines news, Director Vincent A. Miller sold 3,200 shares of the stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $49.00, for a total value of $156,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Svennilson sold 18,215 shares of the stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $46.65, for a total value of $849,729.75. Following the completion of the transaction, the director now owns 20,302 shares in the company, valued at approximately $947,088.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,153 shares of company stock worth $5,638,446.

Large investors have recently made changes to their positions in the business. McCarthy Asset Management Inc. bought a new position in Revolution Medicines in the fourth quarter worth approximately $51,000. Penserra Capital Management LLC bought a new position in Revolution Medicines in the fourth quarter worth approximately $60,000. First Mercantile Trust Co. bought a new position in Revolution Medicines in the first quarter worth approximately $78,000. Pacer Advisors Inc. bought a new position in Revolution Medicines in the fourth quarter worth approximately $90,000. Finally, E Fund Management Co. Ltd. bought a new position in Revolution Medicines in the first quarter worth approximately $134,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

About Revolution Medicines (NASDAQ:RVMD)

Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.

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