Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Sells $458,251.52 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 11,738 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the sale, the insider now owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Revolution Medicines Trading Up 1.5 %

Shares of Revolution Medicines stock traded up $0.59 during trading on Wednesday, reaching $38.75. The stock had a trading volume of 1,288,279 shares, compared to its average volume of 1,347,713. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of -10.79 and a beta of 1.46. The stock has a fifty day moving average price of $40.86 and a two-hundred day moving average price of $45.83. Revolution Medicines, Inc. has a 52 week low of $29.55 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). On average, equities analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Institutional Trading of Revolution Medicines

Institutional investors have recently modified their holdings of the company. IFP Advisors Inc bought a new stake in shares of Revolution Medicines in the fourth quarter valued at about $34,000. Quarry LP bought a new stake in Revolution Medicines during the third quarter worth about $82,000. Sterling Capital Management LLC raised its holdings in Revolution Medicines by 588.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after acquiring an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Revolution Medicines by 368.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after acquiring an additional 1,613 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Revolution Medicines during the fourth quarter worth about $104,000. 94.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RVMD. UBS Group boosted their target price on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Stifel Nicolaus decreased their price objective on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. HC Wainwright lifted their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Wedbush reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Finally, Needham & Company LLC decreased their price objective on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $66.31.

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.