Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Sells $400,300.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD - Get Free Report) CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the transaction, the chief financial officer now directly owns 101,959 shares of the company's stock, valued at approximately $4,081,418.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jack Anders also recently made the following trade(s):

• On Monday, March 18th, Jack Anders sold 1,261 shares of Revolution Medicines stock. The stock was sold at an average price of $31.58, for a total value of $39,822.38.

Revolution Medicines Stock Up 2.6 %

Revolution Medicines stock traded up $1.01 during midday trading on Friday, hitting $40.20. 789,293 shares of the stock were exchanged, compared to its average volume of 1,362,345. Revolution Medicines, Inc. has a 52-week low of $15.44 and a 52-week high of $40.21. The business's 50-day moving average price is $33.04 and its 200-day moving average price is $28.30. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of -10.66 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) 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 the consensus estimate of $1.20 million. The firm's quarterly revenue was down 95.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.63) earnings per share. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -3.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Revolution Medicines

Hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC purchased a new stake in Revolution Medicines in the fourth quarter worth $80,000. China Universal Asset Management Co. Ltd. raised its stake in Revolution Medicines by 101.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company's stock valued at $78,000 after acquiring an additional 1,409 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Revolution Medicines during the first quarter valued at about $104,000. Fred Alger Management LLC bought a new position in Revolution Medicines during the third quarter worth about $126,000. Finally, Federated Hermes Inc. purchased a new position in shares of Revolution Medicines in the third quarter worth about $126,000. 94.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Oppenheimer lifted their target price on Revolution Medicines from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, April 12th. Piper Sandler began coverage on shares of Revolution Medicines in a research note on Monday, March 11th. They issued an "overweight" rating and a $43.00 price objective for the company. Needham & Company LLC restated a "buy" rating and issued a $46.00 price target (up from $36.00) on shares of Revolution Medicines in a report on Monday, April 8th. Raymond James raised shares of Revolution Medicines from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $36.00 to $48.00 in a research note on Wednesday, April 10th. Finally, Wedbush increased their price objective on shares of Revolution Medicines from $41.00 to $42.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 27th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price 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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