Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Mark A. Goldsmith Sells 10,000 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total transaction of $449,300.00. Following the sale, the insider now directly owns 300,170 shares of the company’s stock, valued at approximately $13,486,638.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Revolution Medicines Price Performance

RVMD opened at $46.13 on Friday. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $48.61. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of -12.30 and a beta of 1.43. The firm’s fifty day moving average price is $43.67 and its two-hundred day moving average price is $39.91.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Oppenheimer lifted their price target on shares of Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. cut their price target on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $56.00 price objective on shares of Revolution Medicines in a research note on Monday, August 12th. Needham & Company LLC lowered their target price on Revolution Medicines from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of Revolution Medicines in a research report on Monday, July 8th. They issued a “buy” rating and a $63.00 price target for the company. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $54.00.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of RVMD. SG Americas Securities LLC increased its position in shares of Revolution Medicines by 193.1% during the third quarter. SG Americas Securities LLC now owns 31,454 shares of the company’s stock valued at $1,426,000 after acquiring an additional 20,724 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Revolution Medicines in the 2nd quarter valued at $232,000. Point72 Asset Management L.P. purchased a new stake in shares of Revolution Medicines during the 2nd quarter valued at $8,846,000. Creative Planning raised its stake in shares of Revolution Medicines by 65.2% during the 2nd quarter. Creative Planning now owns 27,029 shares of the company’s stock worth $1,049,000 after purchasing an additional 10,667 shares during the period. Finally, Algert Global LLC boosted its holdings in shares of Revolution Medicines by 519.9% in the 2nd quarter. Algert Global LLC now owns 40,048 shares of the company’s stock worth $1,554,000 after buying an additional 33,588 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

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.