Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Sells $449,300.00 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total transaction of $449,300.00. Following the completion of the transaction, the insider now directly owns 300,170 shares in the company, valued at $13,486,638.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $47.32 on Friday. The company has a market capitalization of $7.90 billion, a P/E ratio of -12.62 and a beta of 1.43. The company’s 50 day moving average price is $43.69 and its two-hundred day moving average price is $40.09. Revolution Medicines, Inc. has a 52 week low of $15.44 and a 52 week high of $48.61.

Revolution Medicines (NASDAQ:RVMD) last posted 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 firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $0.81 million. During the same quarter in the previous year, the business earned ($0.92) EPS. The firm’s revenue was down 73.8% compared to the same quarter last year. Analysts forecast that Revolution Medicines, Inc. will post -3.35 earnings per share for the current year.

Institutional Trading of Revolution Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in RVMD. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 4,990,800 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Revolution Medicines by 40.8% in the fourth 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 last quarter. Baker BROS. Advisors LP grew its stake in shares of Revolution Medicines by 46.6% in the first quarter. Baker BROS. Advisors LP now owns 7,549,249 shares of the company’s stock valued at $243,312,000 after buying an additional 2,400,592 shares in the last quarter. Farallon Capital Management LLC grew its stake in shares of Revolution Medicines by 30.0% in the second quarter. Farallon Capital Management LLC now owns 9,757,692 shares of the company’s stock valued at $378,696,000 after buying an additional 2,249,820 shares in the last quarter. Finally, BVF Inc. IL grew its stake in shares of Revolution Medicines by 50.2% in the fourth quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock valued at $171,541,000 after buying an additional 2,000,000 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RVMD. Needham & Company LLC cut their price target on shares of Revolution Medicines from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Oppenheimer increased their price target on shares of Revolution Medicines from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Bank of America increased their price target on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Barclays increased their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $56.00 price target on shares of Revolution Medicines in a research report on Monday, August 12th. Ten 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, Revolution Medicines currently has an average rating of “Buy” and an average target price of $54.00.

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.