Revolution Medicines, Inc. (NASDAQ:RVMD) Director Sells $94,820.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $44.00, for a total value of $94,820.00. Following the completion of the sale, the director now directly owns 19,948 shares in the company, valued at approximately $877,712. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $42.46 on Thursday. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $44.80. The company’s 50-day moving average is $38.83 and its 200 day moving average is $33.67. The firm has a market capitalization of $7.01 billion, a P/E ratio of -11.32 and a beta of 1.44.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.05. During the same period in the previous year, the company earned ($0.72) earnings per share. Revolution Medicines’s quarterly revenue was down 100.0% on a year-over-year basis. Research analysts anticipate that Revolution Medicines, Inc. will post -3.12 earnings per share for the current fiscal year.

Institutional Trading of Revolution Medicines

Several institutional investors and hedge funds have recently made changes to their positions in RVMD. Headlands Technologies LLC grew its holdings in shares of Revolution Medicines by 140.9% in the first quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after purchasing an additional 885 shares during the last quarter. Manchester Capital Management LLC bought a new position in Revolution Medicines in the 4th quarter worth about $80,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Revolution Medicines during the first quarter worth approximately $104,000. EntryPoint Capital LLC bought a new stake in shares of Revolution Medicines during the first quarter valued at approximately $107,000. Finally, Natixis purchased a new stake in shares of Revolution Medicines in the first quarter valued at approximately $196,000. 94.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RVMD has been the subject of a number of recent research reports. Wedbush raised their target price on shares of Revolution Medicines from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Oppenheimer lifted their price objective on shares of Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Jefferies Financial Group began coverage on shares of Revolution Medicines in a research report on Monday. They set a “buy” rating and a $63.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $44.00 price target on shares of Revolution Medicines in a research report on Monday, May 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $46.00 price objective on shares of Revolution Medicines in a research note on Thursday, May 9th. Ten 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 data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $45.00.

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.