Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Sells 1,864 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 1,864 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. The trade was a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Revolution Medicines Stock Down 1.0 %

Shares of Revolution Medicines stock opened at $38.11 on Friday. The stock’s fifty day moving average is $40.55 and its two-hundred day moving average is $45.70. The company has a market capitalization of $7.09 billion, a PE ratio of -10.62 and a beta of 1.46. Revolution Medicines, Inc. has a 52 week low of $29.55 and a 52 week high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last posted 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). As a group, research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Hedge Funds Weigh In On Revolution Medicines

A number of hedge funds have recently added to or reduced their stakes in RVMD. IFP Advisors Inc bought a new position in Revolution Medicines in the 4th quarter worth about $34,000. Quarry LP bought a new position in Revolution Medicines in the third quarter worth approximately $82,000. Sterling Capital Management LLC grew its stake in Revolution Medicines by 588.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock worth $86,000 after purchasing an additional 1,672 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Revolution Medicines by 368.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after buying an additional 1,613 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Revolution Medicines during the 4th quarter worth $104,000. 94.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RVMD. Wedbush restated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a research report on Thursday, February 27th. Needham & Company LLC reduced their target price on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus reduced their target price on shares of Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. UBS Group boosted their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Twelve 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, the stock presently has a consensus rating of “Buy” and a consensus target price 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.