Revolution Medicines, Inc. (NASDAQ:RVMD) Insider Sells $531,815.60 in Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) insider Mark A. Goldsmith sold 11,714 shares of Revolution Medicines stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $531,815.60. Following the completion of the transaction, the insider now directly owns 325,056 shares of the company’s stock, valued at approximately $14,757,542.40. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Revolution Medicines Trading Down 4.8 %

Shares of NASDAQ:RVMD traded down $2.16 during mid-day trading on Wednesday, hitting $43.00. 1,019,225 shares of the company traded hands, compared to its average volume of 1,392,216. The stock has a 50-day moving average price of $52.23 and a two-hundred day moving average price of $46.05. Revolution Medicines, Inc. has a 12-month low of $25.60 and a 12-month high of $62.40. The stock has a market cap of $7.23 billion, a P/E ratio of -11.98 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period last year, the company earned ($0.99) EPS. As a group, analysts expect that Revolution Medicines, Inc. will post -3.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RVMD. Barclays raised their price objective on shares of Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Guggenheim raised their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and set a $70.00 price objective on shares of Revolution Medicines in a report on Monday, December 2nd. HC Wainwright raised their target price on Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer boosted their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $63.67.

Hedge Funds Weigh In On Revolution Medicines

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Revolution Medicines by 10.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after buying an additional 320 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Revolution Medicines by 4.1% in the 3rd quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock worth $384,000 after buying an additional 337 shares during the period. Amalgamated Bank grew its stake in Revolution Medicines by 7.4% in the 2nd quarter. Amalgamated Bank now owns 5,272 shares of the company’s stock valued at $205,000 after buying an additional 365 shares in the last quarter. Finally, KBC Group NV raised its holdings in Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares during the period. 94.34% of the stock is owned by institutional investors.

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.