Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Sells 7,500 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) insider Mark A. Goldsmith sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $35.48, for a total value of $266,100.00. Following the completion of the sale, the insider now owns 452,879 shares in the company, valued at approximately $16,068,146.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Revolution Medicines Stock Down 3.6 %

Shares of RVMD stock traded down $1.34 during trading hours on Friday, hitting $36.07. 1,634,579 shares of the company's stock were exchanged, compared to its average volume of 1,402,769. The firm has a market cap of $5.94 billion, a P/E ratio of -9.92 and a beta of 1.54. The firm has a 50 day moving average of $30.98 and a two-hundred day moving average of $27.27. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $38.73.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Monday, February 26th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The firm had revenue of $0.74 million during the quarter, compared to analyst estimates of $1.20 million. Revolution Medicines's revenue for the quarter was down 95.2% on a year-over-year basis. During the same period last year, the firm posted ($0.63) earnings per share. On average, equities analysts forecast that Revolution Medicines, Inc. will post -3.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RVMD. Point72 Hong Kong Ltd acquired a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $39,000. US Bancorp DE raised its stake in Revolution Medicines by 68.1% in the 2nd quarter. US Bancorp DE now owns 1,575 shares of the company's stock valued at $42,000 after purchasing an additional 638 shares during the last quarter. Shell Asset Management Co. acquired a new position in Revolution Medicines in the 4th quarter valued at $54,000. KBC Group NV acquired a new position in Revolution Medicines in the 4th quarter valued at $65,000. Finally, Tower Research Capital LLC TRC raised its stake in Revolution Medicines by 76.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,418 shares of the company's stock valued at $74,000 after purchasing an additional 1,481 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RVMD shares. Wedbush upped their target price on Revolution Medicines from $41.00 to $42.00 and gave the company an "outperform" rating in a research report on Tuesday, February 27th. Raymond James upgraded Revolution Medicines from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $36.00 to $48.00 in a research report on Wednesday. Piper Sandler assumed coverage on Revolution Medicines in a research report on Monday, March 11th. They issued an "overweight" rating and a $43.00 target price on the stock. UBS Group assumed coverage on Revolution Medicines in a research report on Wednesday, December 20th. They issued a "buy" rating and a $40.00 price objective on the stock. Finally, Oppenheimer upped their price objective on Revolution Medicines from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $41.20.

About Revolution Medicines

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.

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