Insider Selling: Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Sells 30,000 Shares of Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 30,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the sale, the insider now owns 300,170 shares of the company’s stock, valued at approximately $15,116,561.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Revolution Medicines Price Performance

RVMD stock traded down $0.23 during midday trading on Tuesday, hitting $48.99. The stock had a trading volume of 881,280 shares, compared to its average volume of 1,313,758. The firm has a market cap of $8.18 billion, a PE ratio of -13.46 and a beta of 1.43. Revolution Medicines, Inc. has a 12-month low of $15.44 and a 12-month high of $51.00. The company’s 50-day moving average price is $44.23 and its 200 day moving average price is $40.91.

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

Institutional Trading of Revolution Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of RVMD. Vanguard Group Inc. grew its stake in Revolution Medicines by 51.8% in the 4th quarter. Vanguard Group Inc. now owns 14,634,391 shares of the company’s stock worth $419,714,000 after acquiring an additional 4,990,800 shares during the period. Wellington Management Group LLP grew its stake in shares of Revolution Medicines by 40.8% during the 4th quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock valued at $426,818,000 after buying an additional 4,309,611 shares during the period. Baker BROS. Advisors LP grew its stake in shares of Revolution Medicines by 46.6% during the 1st 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 during the period. Farallon Capital Management LLC grew its stake in shares of Revolution Medicines by 30.0% during the 2nd 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 during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Revolution Medicines by 77.9% during the 1st quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock valued at $126,067,000 after buying an additional 1,712,639 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RVMD shares. Barclays lifted 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. HC Wainwright reiterated a “buy” rating and set a $56.00 price target on shares of Revolution Medicines in a research report on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and set a $61.00 price target on shares of Revolution Medicines in a research report on Monday, October 7th. JPMorgan Chase & Co. reduced their price target on shares of Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research report on Monday, July 8th. They set a “buy” rating and a $63.00 price target for the company. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.