Jack Anders Sells 10,000 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) Stock

Revolution Medicines, Inc. (NASDAQ:RVMD) CFO Jack Anders sold 10,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $40.03, for a total transaction of $400,300.00. Following the completion of the sale, the chief financial officer now directly owns 101,959 shares in the company, valued at $4,081,418.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Jack Anders also recently made the following trade(s):

• On Monday, March 18th, Jack Anders sold 1,261 shares of Revolution Medicines stock. The stock was sold at an average price of $31.58, for a total value of $39,822.38.

Revolution Medicines Stock Performance

RVMD stock opened at $40.20 on Friday. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of -10.66 and a beta of 1.46. The business’s 50 day moving average price is $33.25 and its two-hundred day moving average price is $28.34. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $40.21.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The company had revenue of $0.74 million for the quarter, compared to the consensus estimate of $1.20 million. Revolution Medicines’s quarterly revenue was down 95.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.63) EPS. Sell-side analysts forecast that Revolution Medicines, Inc. will post -3.18 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Raymond James raised shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $36.00 to $48.00 in a report on Wednesday, April 10th. Needham & Company LLC restated a “buy” rating and set a $46.00 price target (up previously from $36.00) on shares of Revolution Medicines in a research report on Monday, April 8th. Piper Sandler assumed coverage on Revolution Medicines in a research note on Monday, March 11th. They set an “overweight” rating and a $43.00 price target for the company. Wedbush boosted their target price on Revolution Medicines from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Finally, Oppenheimer boosted their price target on shares of Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $41.20.

Hedge Funds Weigh In On Revolution Medicines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB increased its position in Revolution Medicines by 6.0% during the third quarter. Handelsbanken Fonder AB now owns 14,200 shares of the company’s stock valued at $393,000 after acquiring an additional 800 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Revolution Medicines by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 420,366 shares of the company’s stock valued at $11,636,000 after acquiring an additional 8,825 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Revolution Medicines by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company’s stock worth $462,000 after purchasing an additional 2,199 shares in the last quarter. Strs Ohio lifted its position in Revolution Medicines by 270.6% during the third quarter. Strs Ohio now owns 6,300 shares of the company’s stock valued at $174,000 after purchasing an additional 4,600 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in Revolution Medicines by 106.2% during the third quarter. TD Asset Management Inc now owns 271,824 shares of the company’s stock valued at $7,524,000 after purchasing an additional 140,012 shares during the period. Institutional investors own 94.34% of the company’s stock.

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.