Revolution Medicines (NASDAQ:RVMD) Stock Price Down 4.2% on Insider Selling

Revolution Medicines, Inc. (NASDAQ:RVMD)’s stock price fell 4.2% during mid-day trading on Monday following insider selling activity. The company traded as low as $38.37 and last traded at $38.53. 888,002 shares traded hands during trading, a decline of 34% from the average session volume of 1,354,194 shares. The stock had previously closed at $40.20.

Specifically, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were 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 owns 101,959 shares of the company’s stock, valued at approximately $4,081,418.77. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the sale, the chief financial officer now owns 101,959 shares of the company’s stock, valued at approximately $4,081,418.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sushil Patel sold 2,155 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total value of $79,735.00. Following the transaction, the director now owns 15,700 shares of the company’s stock, valued at $580,900. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,705 shares of company stock worth $1,031,049. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Revolution Medicines Price Performance

The company has a fifty day moving average price of $33.59 and a two-hundred day moving average price of $28.45. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of -10.31 and a beta of 1.46.

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

Institutional Trading of Revolution Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. acquired a new position in shares of Revolution Medicines in the 1st quarter valued at $528,000. Susquehanna Fundamental Investments LLC purchased a new stake in Revolution Medicines during the first quarter valued at about $6,656,000. SG Americas Securities LLC boosted its holdings in shares of Revolution Medicines by 153.9% in the first quarter. SG Americas Securities LLC now owns 9,129 shares of the company’s stock worth $294,000 after buying an additional 5,534 shares during the period. Duality Advisers LP purchased a new position in shares of Revolution Medicines in the first quarter worth approximately $826,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Revolution Medicines during the first quarter valued at approximately $104,000. 94.34% of the stock is owned by institutional investors and hedge funds.

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.