Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Sells $458,800.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $45.88, for a total transaction of $458,800.00. Following the completion of the transaction, the insider now directly owns 311,885 shares in the company, valued at $14,309,283.80. The sale was disclosed in a document filed with the SEC, which is available at this link.

Revolution Medicines Stock Performance

RVMD opened at $44.00 on Monday. The stock has a market capitalization of $7.26 billion, a PE ratio of -11.73 and a beta of 1.44. Revolution Medicines, Inc. has a one year low of $15.44 and a one year high of $48.61. The business’s 50 day moving average price is $41.25 and its 200 day moving average price is $35.79.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.05. The business’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period last year, the business posted ($0.72) earnings per share. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -3.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. HC Wainwright raised their target price on Revolution Medicines from $44.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Needham & Company LLC lifted their target price on shares of Revolution Medicines from $46.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Oppenheimer increased their target price on shares of Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $36.00 to $48.00 in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group began coverage on shares of Revolution Medicines in a report on Monday, July 8th. They issued a “buy” rating and a $63.00 price objective for the company. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $50.67.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RVMD. Headlands Technologies LLC lifted its holdings in shares of Revolution Medicines by 140.9% in the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after acquiring an additional 885 shares during the last quarter. Manchester Capital Management LLC acquired a new position in Revolution Medicines during the fourth quarter worth $80,000. Allspring Global Investments Holdings LLC acquired a new position in Revolution Medicines during the first quarter worth $104,000. EntryPoint Capital LLC purchased a new position in shares of Revolution Medicines during the first quarter worth $107,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.