Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Sells 10,000 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.30, for a total value of $503,000.00. Following the completion of the sale, the chief financial officer now directly owns 98,932 shares in the company, valued at approximately $4,976,279.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Revolution Medicines Trading Up 2.9 %

Shares of RVMD opened at $50.42 on Thursday. The stock has a market cap of $8.42 billion, a P/E ratio of -13.85 and a beta of 1.43. The stock’s 50-day moving average price is $44.51 and its two-hundred day moving average price is $41.09. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $51.00.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.81 million. The business’s revenue for the quarter was down 73.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.92) EPS. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -3.35 EPS for the current year.

Institutional Trading of Revolution Medicines

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Revolution Medicines by 51.8% in the fourth quarter. Vanguard Group Inc. now owns 14,634,391 shares of the company’s stock valued at $419,714,000 after acquiring an additional 4,990,800 shares during the period. Wellington Management Group LLP grew its position in shares of Revolution Medicines by 40.8% in the 4th quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock valued at $426,818,000 after purchasing an additional 4,309,611 shares during the period. Baker BROS. Advisors LP increased its stake in Revolution Medicines by 46.6% during the 1st quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company’s stock worth $243,312,000 after purchasing an additional 2,400,592 shares in the last quarter. Farallon Capital Management LLC increased its stake in Revolution Medicines by 30.0% during the 2nd quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock worth $378,696,000 after purchasing an additional 2,249,820 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Revolution Medicines by 77.9% during the 1st quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock worth $126,067,000 after buying an additional 1,712,639 shares during the period. Institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $56.00 target price on shares of Revolution Medicines in a research note on Monday, August 12th. Oppenheimer boosted their price objective on Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Needham & Company LLC restated a “buy” rating and issued a $61.00 target price on shares of Revolution Medicines in a research note on Monday, October 7th. Barclays increased their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Wedbush restated an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and a consensus target price of $54.00.

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.