Revolution Medicines Stock Is Getting Hammered: Here's Why

Revolution Medicines Inc RVMD shares are trading lower by 11.25% to $21.82 Wednesday morning after the company announced the pricing of its underwritten public offering of 11,500,000 shares of common stock at a public offering price of $20.00 per share.

Revolution Medicines says the offering is expected to close on July 22, subject to customary closing conditions.

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Revolution Medicines is a clinical-stage precision oncology company.

According to data from Benzinga Pro, Revolution Medicines has a 52-week high of $34.16 and a 52-week low of $14.08.