Mark A. Goldsmith Sells 11,738 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 11,738 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the sale, the insider now directly owns 441,564 shares in the company, valued at $17,238,658.56. This trade represents a 2.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock traded up $0.59 during midday trading on Wednesday, hitting $38.75. 1,288,279 shares of the company were exchanged, compared to its average volume of 1,347,713. The firm has a market cap of $7.20 billion, a P/E ratio of -10.79 and a beta of 1.46. Revolution Medicines, Inc. has a 52 week low of $29.55 and a 52 week high of $62.40. The firm has a 50 day simple moving average of $40.86 and a 200-day simple moving average of $45.83.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Equities research analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Hedge Funds Weigh In On Revolution Medicines

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Boxer Capital Management LLC bought a new position in Revolution Medicines in the 4th quarter valued at $187,184,000. Janus Henderson Group PLC raised its position in Revolution Medicines by 54.5% in the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company’s stock valued at $414,777,000 after purchasing an additional 3,346,755 shares during the last quarter. Vanguard Group Inc. raised its position in Revolution Medicines by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock valued at $747,799,000 after purchasing an additional 2,185,082 shares during the last quarter. Farallon Capital Management LLC raised its position in Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock valued at $579,498,000 after purchasing an additional 1,931,000 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in Revolution Medicines in the 3rd quarter valued at $83,082,000. Institutional investors own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

RVMD has been the topic of a number of research analyst reports. UBS Group raised their target price on Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC lowered their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. HC Wainwright lifted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $66.31.

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.