Revolution Medicines Inc. [NASDAQ: RVMD] gained 9.81% or 2.39 points to close at $26.76 with a heavy trading volume of 5592682 shares. The company report on February 27, 2023 that Revolution Medicines Reports Fourth Quarter and Full Year 2022 Financial Results and Update on Corporate Progress.
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It opened the trading session at $28.14, the shares rose to $28.14 and dropped to $26.06, the range by which the price of stock traded the whole day. The daily chart for RVMD points out that the company has recorded 25.87% gains over the past six months. However, it is still -90.06% lower than its most recent low trading price.
If we look at the average trading volume of 999.98K shares, RVMD reached to a volume of 5592682 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Revolution Medicines Inc. [RVMD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RVMD shares is $29.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RVMD stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Revolution Medicines Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 28, 2023. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on December 14, 2022, representing the official price target for Revolution Medicines Inc. stock. Previously, the target price had yet another raise to $30, while Oppenheimer analysts kept a Outperform rating on RVMD stock.
The Average True Range (ATR) for Revolution Medicines Inc. is set at 1.33, with the Price to Sales ratio for RVMD stock in the period of the last 12 months amounting to 80.64. The Price to Book ratio for the last quarter was 3.32, with the Price to Cash per share for the same quarter was set at 7.37.
Trading performance analysis for RVMD stock
Revolution Medicines Inc. [RVMD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.91. With this latest performance, RVMD shares dropped by -3.53% in over the last four-week period, additionally plugging by 25.87% over the last 6 months – not to mention a rise of 35.02% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RVMD stock in for the last two-week period is set at 58.50, with the RSI for the last a single of trading hit 64.40, and the three-weeks RSI is set at 56.39 for Revolution Medicines Inc. [RVMD]. The present Moving Average for the last 50 days of trading for this stock 25.31, while it was recorded at 24.98 for the last single week of trading, and 21.73 for the last 200 days.
Revolution Medicines Inc. [RVMD]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Revolution Medicines Inc. [RVMD] shares currently have an operating margin of -639.70 and a Gross Margin at +75.05. Revolution Medicines Inc.’s Net Margin is presently recorded at -636.58.
Return on Equity for this stock declined to -34.74, with Return on Assets sitting at -27.66.
Revolution Medicines Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.20 and a Current Ratio set at 9.20.
An analysis of insider ownership at Revolution Medicines Inc. [RVMD]
There are presently around $2,398 million, in the hands of institutional investors. The top three institutional holders of RVMD stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 8,873,974, which is approximately 20.224% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 7,561,910 shares of the stock with an approximate value of $202.36 million in RVMD stocks shares; and BLACKROCK INC., currently with $175.97 million in RVMD stock with ownership of nearly 3.502% of the company’s market capitalization.
Positions in Revolution Medicines Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 75 institutional holders increased their position in Revolution Medicines Inc. [NASDAQ:RVMD] by around 9,340,349 shares. Additionally, 64 investors decreased positions by around 7,958,218 shares, while 25 investors held positions by with 72,322,324 shares. The mentioned changes placed institutional holdings at 89,620,891 shares, according to the latest SEC report filing. RVMD stock had 23 new institutional investments in for a total of 1,821,086 shares, while 24 institutional investors sold positions of 841,296 shares during the same period.